UETIANS Lahore Endowment Foundation (www.ULEFUSA.org), holds its assets in three types of funds as explained here and donors can choose a fund and advise for its intended use and foundation will ensure your chosen path if followed in letter and spirit..

Restricted Funds:  These funds are held in perpetuity for growth ETF at Fidelity Investments. Only a percent single annual draw is permitted through board resolution based on the average of previous three years’ growth, not to exceeding 10%. Governing board decides the use of these annual budgeted funds.

Donor Advised Funds (DAF):  These funds are also held in perpetuity with along restricted funds but their utilization of draw is strictly as advised by the donor and the board simply executes their wish as long as it supports alma mater. This is to attract funds held by individual donors in trusts and have a predefined goal on how to help their alma mater 

Un-Restricted Funds These are funds donated by individual donors but their use is left to the board’s discretion, without the condition of perpetual investment and annual draw. It is left to the board to decide to invest in perpetuity or fund a priority project that cannot wait for too long and has a value proposition.

Endowment Fund Operation: Funds are invested in perpetuity with the third-party professionals at Fidelity Investments in sharia compliant ETFs with sound expertise in managing endowment funds. Annual withdrawals would be initiated by a BoD resolution and requires at least three signatures from the Board including the chairman. Also, the account will be set up with no other withdrawal methods.

Ant draw under $999 and authorized by board to meet expense can be made with single  signature. Any amounts above $1,000 would need an additional signature from the BoD.