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Which of the following statements is correct? Option A: Endowments are unrestricted donations which can be used for any purposes that are consistent with the
Which of the following statements is correct?
Option A: Endowments are unrestricted donations which can be used for any purposes that are consistent with the goals and objectives of the notforprofit organization.
Option B: Endowments are donations that are received with the provision that it will be invested and only the investment income may be spent by the organization.
Option C: Endowments may be restricted and unrestricted funds which must be used in accordance with the wishes of the contributor and only available during the life of the donor.
Option D: Endowments are provided as donations which only allow a notforprofit organization to invest in other notforprofit organizations only.
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