If a donor endows a professorial chair at a school, he or she gives a gift and indicates that the earnings from the gift must be used by a specific professor. Would the initial gift be recorded in a...

If a donor endows a professorial chair at a school, he or she gives a gift and indicates that the earnings from the gift must be used by a specific professor. Would the initial gift be recorded in a fund with donor restrictions or a fund without donor restrictions? Would the earnings be recorded in a fund with donor restrictions or a fund without donor restrictions?