Word: escrowed
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Money donated to the fund is held in an escrow account administered by the Undergraduate Council. It Harvard sells its holdings in objectionable companies, or if the United Nations rescinds its call for corporate divestiture from the apartheid state, the money will be released to Harvard for scholarships. It neither of these conditions is met by 2003--20 years after the inception of the program the money will be given to a charity in the Harvard community moral message," said organizer Robert Yarbrough...
...sure, there is no way Harvard's administration can have avoided thinking about divestment. Student activists have almost invariably staged demonstrations each April. Last year's highly visible establishment of the Endowment for Divestiture, an escrow fund set up as an alternative to the Class Gift Fund that will go to Harvard only when the University divests or when the United Nations rescinds its call for corporate divestiture, drew about $18,000 in donations and garnered national publicity...
...action reminiscent of 60s protests. Last year, public attention grew briefly when a group of students and one Faculty member fasted for seven days. At the same time, the senior class began an alternative class gift fund called Endowment for Divestiture, planning to hold donations in an escrow account until Harvard divests...
...fund was established last year by students who protest Harvard's financial holdings in the apartheid country of South Africa. Donations to the fund will be held in escrow until Harvard divests these holdings or for 20 years, at which time the money will be donated elsewhere...
Even as the last was in progress, another group of undergraduates began a more direct approach. The students created an alternative fund to the Senior Class Gilt called the "Endowment for Divestiture," that locks senior donations into an escrow account. The funds will be turned over to Harvard it and when it divests from firms doing business in South Africa, or when the United Nations "clears" the South African government by lifting its 1976 call for corporate withdrawal from that country. It neither occurs within 20 years, the money will be given to charitable organizations in the Harvard community...