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    • Mission, Vision, and Values
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Omicron Delta Kappa

Omicron Delta Kappa
  • About
    • Mission, Vision, and Values
      • Notable Members
      • Founders’ Day
    • Leading in the 21st Century: FY 2022-24 O∆K Strategic Plan
    • Fast Facts
    • Leadership
      • Board of Trustees
      • Emeriti Trustees
      • Student Advisory Board
      • Staff
    • Governance
      • 2022 Elections for Student and Faculty/Staff Trustees
      • Articles of Incorporation
      • National Bylaws
      • Governing Committees
      • Operating Committees
      • Omicron Delta Kappa Policies and Procedures
    • History of the Society
      • Our Founders
      • Toward a More Inclusive Society
      • Women in Omicron Delta Kappa
      • Former National Presidents and Board Chairs
      • Circle Installations
    • Commitment to Diversity and Equal Opportunity
  • Members
    • Prospective Members
    • Collegiate Members
    • Lifetime Members
      • Help Our Circles Thrive
      • Become a National Level Volunteer
      • Governance and Fundraising Volunteer Opportunities
      • OΔK Speakers Bureau
    • Member Benefits
    • Update Your O∆K Record
    • Read The Circle
  • Programs
    • Clay Leadership Development Grants
    • National Leadership Conference
      • 2022 National Leadership Conference
      • 2021 National Leadership Conference — Online
      • Past National Conventions
    • National Leadership Awards
    • Scholarships
    • National Day of Service
      • National Day of Service Report
      • 2021 National Day of Service Stories
    • Stone Ethical Leadership Challenge
    • Listen Up OΔK Leaders!
    • OΔK Speakers Bureau
  • Circles
    • Find a Circle
    • Membership Fees
    • Circle Officers (Advisors and Student Officers)
      • Dates and Deadlines
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      • Recognition and Awards
      • Webinars and Training
    • Resources to Promote Leadership Embracing Diversity, Equity, and Inclusivity
      • Glossary of Terms
      • Organizations Advocating for Social Justice
      • Publications Focused on Diversity, Equity, and Inclusivity
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      • Charitable Gift Annuities
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    • Gift Acceptance Policies
    • Endowment Information
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  • Circles
    • Find a Circle
    • Membership Fees
    • Circle Officers (Advisors and Student Officers)
      • Dates and Deadlines
      • Member Management System
      • Monthly Officer Updates Newsletter
      • Recruitment and Selection
      • Initiation
      • Branding, Templates, and Downloads
      • Circle Reports and Forms
      • Recognition and Awards
      • Webinars and Training
    • Resources to Promote Leadership Embracing Diversity, Equity, and Inclusivity
      • Glossary of Terms
      • Organizations Advocating for Social Justice
      • Publications Focused on Diversity, Equity, and Inclusivity
      • Websites Focused on Diversity, Equity, and Inclusivity
      • Circle Programming and Practices
    • Establish a New Circle
      • Extension Process
    • Contact Us
  • Shop
  • Donate
    • Give Now
    • The Campaign for Our Second Century
      • Campaign Giving Opportunities
      • Scholarships for Collegiate Members
      • Opportunity Fund (Gift of Membership)
      • Key Fund
      • Developing the Campus Leaders of Today
      • Collaborative Leadership Initiatives
      • Preservation, Renovation, and Expansion of National Headquarters
      • Campaign Initiatives Supported to Date
    • Ways to Give
      • Planned Giving
      • Charitable Gift Annuities
      • Heritage Society
    • Gift Acceptance Policies
    • Endowment Information
    • National Day of Giving

Categories of Giving

1.  Annual Giving (Unrestricted) – These are gifts that are used for ongoing current budgetary expenditures including un-endowed or general scholarships. These gifts are not restricted by the donors as to their use.

2.  Special Projects (Restricted) – These are gifts that are expendable for specific approved purposes. The donor designates the use of his/her gift for special purposes.

To assure continuity and integrity of the gift, all restricted gift documents should contain language similar to:

“Should the purpose(s) of the gift, as detailed herein, no longer exist(s), the Omicron Delta Kappa Society and Educational Foundation Board of Trustees are authorized to use the earnings of the gift, as they shall determine, in order to best carry out the intended purposes stated in the agreement or the mission of the organization.”

3.  Endowment – Endowment gifts are considered perpetual. It is a special or reserve fund that stipulates or restricts the use of the income from the endowed fund. From Omicron Delta Kappa’s point of view, the terms of the endowment should be written with wide flexibility, yet ensuring the donor is comfortable and satisfied with the terms of the agreement.

A.  Types of Endowments

  1. Pure Endowments: These are endowments which are to continue in perpetuity and in which the principal is not to be invaded.
  2. Quasi-endowments: The principal of these endowments can be used upon the approval of the Board of Trustees. Typically these funds are board-designated endowed funds.\
  3. Term Endowments: These funds are usually set up for a specific period of time. It is usually understood that the principal will be withdrawn from the investment pools after the stated period of time (for example, a period of 3-10 years).
  4. Preservation and Maintenance Endowment: These funds are to be specifically used to support the long-term preservation, care and maintenance for the National Headquarters Building (located at 224 McLaughlin Street, Lexington, VA 24450).

B.  Endowment Restrictions

No restrictions on how gifts may be used will be honored without proper approval from the Board of Trustees.

C.  Minimum amounts required and time allowed to establish endowed funds:

  1. Named Scholarship – $25,000

Because conditions change over time, it is recommended that endowment funds contain the following contingency clause:

“If circumstances should arise in the future that make it illegal, impossible, or impracticable to use the gift for the purposes specified above, then the Board of Trustees may use its best judgment to determine prudent use of the fund in an attempt to fulfill the primary purpose of the fund or organization.”

The maximum period to raise an endowed fund may not exceed five years.

 

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About O∆K

  • Mission, Vision, and Values
    • Notable Members
    • Founders’ Day
  • Fast Facts
  • Leadership
    • Board of Trustees
    • Emeriti Trustees
    • Student Advisory Board
    • Staff
  • Governance
    • Articles of Incorporation
    • National Bylaws
    • Governing Committees
    • Operating Committees
    • 2022 Elections for Student and Faculty/Staff Trustees
      • 2022 Student Trustee Election Information
        • 2022 Student Trustee/National Student Vice Chair-Elect Candidates
        • 2023 Student Trustee Election Timeline
        • 2023 Student Trustee Nomination Form
        • 2023 Student Trustee Application
      • 2022 Faculty/Staff Trustee Election Information
        • 2022 Faculty/Staff Candidate Profiles
        • 2022 Faculty/Staff Trustee Election Timeline
        • 2022 Faculty/Staff Trustee Nomination Form
        • 2022 Faculty/Staff Trustee Application
  • History of the Society
    • Our Founders
    • Circle Installations
    • Toward a More Inclusive Society
    • Women in Omicron Delta Kappa
    • Former National Presidents and Board Chairs

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O∆K, a registered 501(c)3 nonprofit, is a member of the Honor Society Caucus.

 

Johnson Center for Leadership 
O∆K National Headquarters
224 McLaughlin Street
Lexington, Virginia 24450-2002
1-877-ODK-NHDQ (635-6437)
odknhdq@odk.org

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