Hi Vince,
Sorry it has been a few days since I have been on.
Yes, my suggestion would be to have a general fund but then have separate funds that cater to the desires of the donor. The accounting would be a little more challenging but not too bad and you may be able to get people interested that would not be otherwise. Sub-funds might include KU, KSU, WSU and other school specific funds, KS kids wrestling in KS scholarships, Facilities, etc.
I think a donor could choose to fund any of these options or place it in the general fund if they wish. You had also asked what amount of time that the money could be left in the account before it is given to a different school. Do we need a time table on it? These schools have not had wrestling in the past 30 years and if it takes us 30 more years to save up funds so that they can all have a wrestling program then so be it. If that is a goal of this fund then we may as well start saving for it now. When the money gets to be substantial enough, I think the schools will take action.
This is a great project and hopefully some others will see the benefit and add in their .02.
Trent