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University of Minnesota

Memorandum of Agreement

Students with Disabilities Fund
(Formerly MAEF)

Harvey R. Johnson, Ruth Stone Stewart, and the University of Minnesota Foundation agree to establish a fund as follows:

The name of the fund shall be "Marshall Access and Education Fund."

Purpose

The purpose of the fund is to enhance opportunities for learning for students with disabilities at the University of Minnesota. The fund is established by alumni of Marshall High School, a Minneapolis Public School which closed in 1982. For many years, Marshall High School served the educational needs of all Minneapolis high school students with disabilities, as it was Minneapolis' only secondary school facility with an elevator. In establishing the fund, alumni express their thankfulness for an educational experience which enriched their lives through opportunities to develop friendships and to grow with students with disabilities. They also express their pride in and publicly recognize the professional and personal accomplishments of their friends/schoolmates with disabilities. Hoping to provide University of Minnesota students with those same benefits through educational services to students with disabilities, the founders of the fund wish to appeal to a wider audience of donors, who were not necessarily Marshall High School alumni but who have a desire to provide for the educational needs of University of Minnesota students with disabilities.

Use of Funds

Annual distributions from the fund will be used to enhance access to the University of Minnesota and to enhance opportunities for learning for students with disabilities. This might include scholarships (per guidelines below), student development, and disability awareness education.

If distributions from the fund are made for scholarships, they may be used for payment, partially or totally, of educational expenses of students with disabilities who have been selected by the office of Disability Services , according to the following guidelines:

1. Students will be full-time students at the University of Minnesota.



2. Students must be in good academic standing.



3. Students may qualify for funds for more than one year, as long as they are gainfully working toward a degree and continue to meet the guidelines in numbers 1 and 2 above.

Funding

A cash gift establishes the fund as a quasi-endowed (principal may be invaded) fund. If/when the total monies reach $25,000 the fund will become fully endowed.

Investment and Administration of Funds

The Marshall Access & Education Fund shall be administered by the University of Minnesota Foundation and will be invested in accordance with the investment principles of the University of Minnesota Foundation for endowment funds. The University of Minnesota Foundation acknowledges and recognizes its fiduciary responsibility with respect to the investment and use of the fund.

The assets of the fund may be co-mingled with other assets of the University of Minnesota Foundation for purposes of investment. Separate records and accounts will be kept for receipts and common disbursements of this fund.

Investment earnings in excess of annual distributions used will be added to the principal of the Marshall Access and Education Fund. If, in the future, there is no longer a need for funds for the above stated purposes as determined in the sole discretion of the Foundation, Director, and Vice Provost, they may redirect this gift for purposes which are as consistent as reasonably possible with the donors' original intent.

Distribution of Funds

The University of Minnesota Foundation shall annually make distributions from the Marshall Access and Education Fund to the University of Minnesota for the uses and purposes described in the "Purpose" and "Use of Funds" sections. Distributions shall be made on an annual basis in accordance with University of Minnesota Foundation distribution policy as determined by its Foundation.

Reports to Donors

From time to time, the Foundation, with the assistance of the University, shall report to the donors on the investment of the fund, the distributions from the fund, and future plans for expenditures from the fund.