Realized gains result from selling investment assets at a price higher than original cost. Realized losses result from selling investment assets at a price lower than original cost. Underlying investments in the endowment pool are being bought and sold by our investment managers on an on-going basis so each month the endowment accounts will have an allocation of their proportionate share of the Realized Gains/Losses from the entire pool.
Generally used in regard to endowments, it refers to stipulations or requirements set forth by the donor in the MOU. Operating projects can also be restricted to a particular purpose.