Education
Endowed Chair Salary Funding
Using restricted investment income to pay the salary of a specific professor (Endowed Chair).
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Instructional Salary Expense | Expense (+) | 10,000.00 | - |
| Cash | Asset (-) | - | 10,000.00 |
| Net Assets Released (With Restrictions) | Equity (-) | 10,000.00 | - |
| Net Assets Released (Without Restrictions) | Equity (+) | - | 10,000.00 |
💡 Accountant's Note
This is a two-step process: you pay the salary, and then you 'release' the donor's restricted interest income to cover the cost.
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