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[[underlined]]Proposed Transfer of Bequest Funds to Unrestricted Endowment Funds[[/underlined]]

Mr. Ripley reported that the Smithsonian has received an unrestricted bequest of $50,000 from Mrs. Carrie Susan Hinton of Pompano Beach, Florida. No record has been found of any relationship between the Institution and Mrs. Hinton during her lifetime.

While these funds may be used for general operating purposes, it might be appropriate, in view of the magnitude of the gift from this previously unknown admirer, to designate these moneys to a named unrestricted endowment in Mrs. Hinton's memory. This was previously done for the bequest of stock from Robert Lee Forrest, donor as well of the original land at the Chesapeake Bay Center. Income from such an endowment would be unrestricted, but the principal of the gift would remain intact in a fund bearing Mrs. Hinton's name. A letter will be sent to the donor's husband, Mr. Walter Hinton, conveying the gratitude of the Institution for this bequest.

The following motion was approved:

VOTED that the Board of Regents approves the establishment of an Unrestricted Purpose Quasi-Endowment to be known as the Carrie Susan Hinton Endowment, to be funded by the generous bequest of Mrs. Hinton to the Institution.