Policies & Governance
Policies & Governance
Investment Policy
Investment Policy
Investment Policy
The principles that guide how UI Charitable invests and oversees the charitable assets held in donor-advised and other charitable funds.
The principles that guide how UI Charitable invests and oversees the charitable assets held in donor-advised and other charitable funds.
The principles that guide how UI Charitable invests and oversees the charitable assets held in donor-advised and other charitable funds.
Updated 2026
Updated 2026
11 sections
11 sections
Covers all funds held by UI
Covers all funds held by UI
On this page
01
Purpose
02
Donor-Advisor Investment Recommendations
03
Investment Flexibility
04
Prudence and Risk
05
Liquidity
06
Illiquid and Alternative Investments
07
Investment Advisors and Managers
08
Conflicts of Interest and Prohibited Transactions
09
Monitoring and Oversight
10
Legal and Regulatory Compliance
11
Amendments
Last updated 2026
Section 01
Purpose
University Impact dba UI Charitable (“UI”) maintains donor-advised funds and other charitable funds for the purpose of supporting charitable giving. This Investment Policy establishes the general principles governing the investment and management of assets held by UI.
UI seeks to provide donors and their financial advisors with flexibility in managing charitable assets while fulfilling UI’s fiduciary, legal, and regulatory responsibilities.
Section 01
Purpose
University Impact dba UI Charitable (“UI”) maintains donor-advised funds and other charitable funds for the purpose of supporting charitable giving. This Investment Policy establishes the general principles governing the investment and management of assets held by UI.
UI seeks to provide donors and their financial advisors with flexibility in managing charitable assets while fulfilling UI’s fiduciary, legal, and regulatory responsibilities.
Section 02
Donor-Advisor Investment Recommendations
Donor-advisors may recommend how assets held in their donor-advised funds are invested and may recommend or designate a financial advisor or investment manager to provide investment recommendations or investment management services.
UI will generally seek to follow the investment recommendations of a donor-advisor and the donor-advisor’s designated financial advisor or investment manager when UI determines that doing so is prudent and consistent with:
applicable law and regulation;
UI’s fiduciary responsibilities;
the charitable purposes of the fund;
anticipated grantmaking and liquidity needs;
applicable tax considerations;
reasonable investment and administrative costs; and
UI’s operational and custodial requirements.
Investment recommendations are advisory. UI retains ultimate ownership and control of all assets contributed to and held by UI and reserves the right to decline, modify, or terminate an investment arrangement when UI determines that doing so is necessary or appropriate.
Section 02
Donor-Advisor Investment Recommendations
Donor-advisors may recommend how assets held in their donor-advised funds are invested and may recommend or designate a financial advisor or investment manager to provide investment recommendations or investment management services.
UI will generally seek to follow the investment recommendations of a donor-advisor and the donor-advisor’s designated financial advisor or investment manager when UI determines that doing so is prudent and consistent with:
applicable law and regulation;
UI’s fiduciary responsibilities;
the charitable purposes of the fund;
anticipated grantmaking and liquidity needs;
applicable tax considerations;
reasonable investment and administrative costs; and
UI’s operational and custodial requirements.
Investment recommendations are advisory. UI retains ultimate ownership and control of all assets contributed to and held by UI and reserves the right to decline, modify, or terminate an investment arrangement when UI determines that doing so is necessary or appropriate.
Section 03
Investment Flexibility
Subject to the requirements above, assets may be invested across a broad range of investment strategies and asset classes. These may include, without limitation:
cash and cash equivalents;
publicly traded equities;
fixed-income securities;
mutual funds and exchange-traded funds;
separately managed accounts;
private equity, venture capital, and other private investment funds;
real estate and real estate-related investments;
hedge funds and other alternative investments; and
other assets or investment strategies approved by UI.
UI does not prescribe a single asset allocation, investment philosophy, or risk profile for every donor-advised fund. Investment strategies may differ based on the objectives, circumstances, time horizon, grantmaking plans, and recommendations associated with each fund.
A donor-advisor or financial advisor may incorporate environmental, social, governance, impact, faith-based, values-based, or other investment considerations into their recommendations. UI does not require such considerations as part of its general investment policy.
Section 03
Investment Flexibility
Subject to the requirements above, assets may be invested across a broad range of investment strategies and asset classes. These may include, without limitation:
cash and cash equivalents;
publicly traded equities;
fixed-income securities;
mutual funds and exchange-traded funds;
separately managed accounts;
private equity, venture capital, and other private investment funds;
real estate and real estate-related investments;
hedge funds and other alternative investments; and
other assets or investment strategies approved by UI.
UI does not prescribe a single asset allocation, investment philosophy, or risk profile for every donor-advised fund. Investment strategies may differ based on the objectives, circumstances, time horizon, grantmaking plans, and recommendations associated with each fund.
A donor-advisor or financial advisor may incorporate environmental, social, governance, impact, faith-based, values-based, or other investment considerations into their recommendations. UI does not require such considerations as part of its general investment policy.
Section 04
Prudence and Risk
UI will administer and invest charitable assets in accordance with applicable standards of prudence.
In evaluating an investment arrangement or recommendation, UI may consider relevant factors including the expected return and risk of the investment, liquidity, diversification, costs, the role of the investment within the applicable fund, the expected duration of the investment, anticipated charitable distributions, and other circumstances relevant to the fund.
Prudence will be evaluated in the context of the applicable charitable fund and investment strategy rather than by requiring every individual investment to satisfy the same risk, liquidity, or diversification standard.
Section 04
Prudence and Risk
UI will administer and invest charitable assets in accordance with applicable standards of prudence.
In evaluating an investment arrangement or recommendation, UI may consider relevant factors including the expected return and risk of the investment, liquidity, diversification, costs, the role of the investment within the applicable fund, the expected duration of the investment, anticipated charitable distributions, and other circumstances relevant to the fund.
Prudence will be evaluated in the context of the applicable charitable fund and investment strategy rather than by requiring every individual investment to satisfy the same risk, liquidity, or diversification standard.
Section 05
Liquidity
Each fund should maintain sufficient liquidity, or have an appropriate plan for obtaining liquidity, to meet reasonably anticipated grants, fees, expenses, and other obligations.
UI may require that a portion of a fund be maintained in liquid assets when UI determines that such liquidity is reasonably necessary.
Section 05
Liquidity
Each fund should maintain sufficient liquidity, or have an appropriate plan for obtaining liquidity, to meet reasonably anticipated grants, fees, expenses, and other obligations.
UI may require that a portion of a fund be maintained in liquid assets when UI determines that such liquidity is reasonably necessary.
Section 06
Illiquid and Alternative Investments
UI may permit donor-advised funds to invest in or retain illiquid, concentrated, private, or alternative investments when UI determines that doing so is prudent and appropriate.
Such investments may be subject to additional due diligence, documentation, fees, valuation requirements, liquidity requirements, or other conditions established by UI.
Acceptance of an asset as a charitable contribution does not obligate UI to retain that asset or approve additional investments in the same or similar assets.
Section 06
Illiquid and Alternative Investments
UI may permit donor-advised funds to invest in or retain illiquid, concentrated, private, or alternative investments when UI determines that doing so is prudent and appropriate.
Such investments may be subject to additional due diligence, documentation, fees, valuation requirements, liquidity requirements, or other conditions established by UI.
Acceptance of an asset as a charitable contribution does not obligate UI to retain that asset or approve additional investments in the same or similar assets.
Section 07
Investment Advisors and Managers
UI may permit donor-advisors to recommend financial advisors, investment managers, custodians, or other investment professionals to assist with the management of assets attributable to their funds.
Any such arrangement remains subject to UI’s oversight and applicable law. UI may establish requirements concerning qualifications, custody, reporting, fees, conflicts of interest, or other matters that UI considers appropriate.
UI may remove or replace an investment advisor, manager, custodian, or investment arrangement when UI determines that doing so is prudent or otherwise necessary to protect the charitable assets.
Section 07
Investment Advisors and Managers
UI may permit donor-advisors to recommend financial advisors, investment managers, custodians, or other investment professionals to assist with the management of assets attributable to their funds.
Any such arrangement remains subject to UI’s oversight and applicable law. UI may establish requirements concerning qualifications, custody, reporting, fees, conflicts of interest, or other matters that UI considers appropriate.
UI may remove or replace an investment advisor, manager, custodian, or investment arrangement when UI determines that doing so is prudent or otherwise necessary to protect the charitable assets.
Section 08
Conflicts of Interest and Prohibited Transactions
All investment activities must comply with applicable laws governing charitable organizations and donor-advised funds, including rules relating to private benefit, excess benefit transactions, conflicts of interest, and other prohibited transactions.
No investment recommendation may be approved when its purpose or effect would be to provide an impermissible benefit to a donor, donor-advisor, related person, investment advisor, or other private party.
Section 08
Conflicts of Interest and Prohibited Transactions
All investment activities must comply with applicable laws governing charitable organizations and donor-advised funds, including rules relating to private benefit, excess benefit transactions, conflicts of interest, and other prohibited transactions.
No investment recommendation may be approved when its purpose or effect would be to provide an impermissible benefit to a donor, donor-advisor, related person, investment advisor, or other private party.
Section 09
Monitoring and Oversight
UI will maintain reasonable oversight of investments and investment arrangements.
The nature and frequency of monitoring may vary depending on the size, complexity, liquidity, risk, and structure of the investment or fund. UI may request information from investment managers, advisors, custodians, or donor-advisors as reasonably necessary to fulfill its fiduciary and regulatory responsibilities.
UI is not required to establish uniform investment benchmarks, asset allocations, or rebalancing requirements across all donor-advised funds.
Section 09
Monitoring and Oversight
UI will maintain reasonable oversight of investments and investment arrangements.
The nature and frequency of monitoring may vary depending on the size, complexity, liquidity, risk, and structure of the investment or fund. UI may request information from investment managers, advisors, custodians, or donor-advisors as reasonably necessary to fulfill its fiduciary and regulatory responsibilities.
UI is not required to establish uniform investment benchmarks, asset allocations, or rebalancing requirements across all donor-advised funds.
Section 10
Legal and Regulatory Compliance
All investment activities are subject to applicable federal and state law, tax requirements, and UI policies.
If an investment recommendation conflicts with applicable law, UI’s charitable purposes, UI’s fiduciary obligations, or another applicable UI policy, UI may decline or modify the recommendation.
Section 10
Legal and Regulatory Compliance
All investment activities are subject to applicable federal and state law, tax requirements, and UI policies.
If an investment recommendation conflicts with applicable law, UI’s charitable purposes, UI’s fiduciary obligations, or another applicable UI policy, UI may decline or modify the recommendation.
Section 11
Amendments
UI’s governing body or its authorized delegates may amend this Investment Policy from time to time in response to changes in law, regulation, investment practices, organizational needs, or other relevant circumstances.
Section 11
Amendments
UI’s governing body or its authorized delegates may amend this Investment Policy from time to time in response to changes in law, regulation, investment practices, organizational needs, or other relevant circumstances.
Questions?
Questions?
Have questions about investing your fund?
Have questions about investing your fund?
Have questions about investing your fund?
Our team can walk you and your financial advisor through how this policy applies to your fund.
Our team can walk you and your financial advisor through how this policy applies to your fund.