Investing in the Long-Term Investment Pool

Units may wish to invest unrestricted operating funds in the Long-term Investment Pool (LTIP) by creating a fund functioning as an endowment (FFE). This vehicle functions much like a mutual fund, whereby participants buy shares at the current market rate and receive a per-share annual income payout as determined by Cornell's board of trustees.

It is important to realize that this investment vehicle does not have a guaranteed rate of return, and that participants expose their investments to market losses, as well as gains. All market risks associated with FFE investments are assumed within the college, department, or unit. To minimize a unit's investment risk associated with investing in the LTIP, the university has established the following guidelines associated with FFE investments.

The most current market rates and payout information are published on the this website. To request an FFE, please contact Accounting.

Guidelines for Funds Functioning as Endowments (FFE)

If you have questions about these guidelines, please contact Accounting.

The minimum investment amount for an FFE is $100,000.

• Funds must be invested for a minimum of five years.
• Requests for withdrawal require two-month notice.
• Requests for withdrawing $1 million or more, either in a single transaction or cumulativelywithin one year, require approvals from the provost and the Chief Financial Officer (CFO).
  • Units* should submit the completed form below to Accounting, who will request these approvals.
• Any deviation from policy requires units* to obtain approvals from the provost and the CFO.
• The minimum threshold amount will be reviewed every five years; the next review is in FY 2023 (unless guidelines change).

*Units: The only exception is Weill Cornell Medicine, which should submit approvals from the dean and provost for medical affairs along with the compelted form, and then Accounting will request approval from the CFO.

CU Foundation Funds

The establishment of any new Cornell University Foundation funds (also invested in the LTIP) will carry the same minimum investment requirement; however, due to the nature of the funds and requirements of donor advised fund programs, none of the other requirements described above apply.

Gifts for Capital Projects

Gifts of $25 million or more that are received for a specific, approved capital project in advance of construction will be considered for investment in the Treasurer's office working capital portfolio. The intent of these actions is to protect the value of these shorter-term investments; we will review the guidelines on an annual basis to be sure they continue to meet the needs of the university.

Withdrawing from LTIP

To withdraw funds from the LTIP, complete the following form.

Note: Withdrawal requests require a two-month notice.

FFE Withdrawal Request Form (PDF, 53 KB)