South Carolina Code of Regulations
Chapter 62 - STATE COMMISSION ON HIGHER EDUCATION
Article VII - SOUTH CAROLINA ACADEMIC ENDOWMENT INCENTIVE ACT OF 1997/SOUTH CAROLINA HIGHER EDUCATION MATCHING GIFT FUND
Section 62-880 - Conditions Pertaining to Matching Gift Funds

Gift Funds are to be used to match that portion of the current earnings of qualifying endowment gifts consistent with the spending rate provision as defined in section 62-850 above. Initially, that spending rate is established at five percent and may be adjusted in subsequent years. Requests for Matching Gift Funds are to be made on an annual basis and submitted on the appropriate CHE form to the Business Office of the Commission by September 30. Matching Gift Funds will be transferred through the Commission to the operating accounts of the institutions. The Matching Gift Funds must be expended on academic activities as defined in section 62-835.I above.