>If I donate 100 million to Penn for the express purposed of building a new architecture building and Penn invests that money and earns 20% on it is that 20% un

>If I donate 100 million to Penn for the express purposed of building a new architecture building and Penn invests that money and earns 20% on it is that 20% under the same restrictions as the principal? It would depend on the facts of the gift; but my understand is that if you give money to be used for a specific purpose, it is restricted to be used for that purpose. There are also gifts that do not allow the principal to be spent; only returns on it. The gift is given in the expectation that it will be invested. Your use of "gambled in the market" is quite loaded; I don't think that most people would regard the activities of these investment officers that way.