Salone News

Endowment Fund for the University of Sierra Leone

30 January 2023 at 19:24 | 810 views


An endowment fund for the oldest Universities in Africa, the University of Sierra Leone (which now has three colleges, including Fourah Bay Colege) has been recently set up.

The Fund has a charitable purpose, according to a release from the university. It is being held on trust to be retained for the benefit of the University of Sierra Leone.

‘Endowment’, the release wnt on, refers to a capital investment made with the intention of generating a consistent revenue stream to support the core mission of the University of Sierra Leone over the long term though not necessarily in perpetuity.

It further states that the funds may be typically named after the donor or a person that the donor wishes to recognize. It may be established by a one-time gift, a series of gifts, wills, trust, gifts of assets or by a combination of the same.

Describig the expectd sources of funding, the release further clarified University of Sierra Leone Endowment Fund is primarily being established from receipt of charitable donations from private individuals, corporations, foundations, associations, and organisations.