Ensuring our Future.
Our Board of Trustees established our general endowment in 1952 to ensure the Association's long-term sustainability could be built upon a perpetual financial foundation. In addition, our donors have helped us to create several named endowed funds that support specific purposes, including our Annual Leadership Awards and the Education for All Scholarship program.
Prudent, Values-driven Oversight.
We are committed to aligning our values with our resources through socially responsible investing. Learn more here.
Our Board of Trustees (BOT) is responsible for the management and investment of our endowed funds. The BOT is a twenty-five member body appointed by the Board of Governors. An Investment Committee, selected by the BOT, provides direct oversight of investments subject to review and approval by the full BOT. We retain SharePower Responsible Investing as our investment management partner. Our Board of Governors has final authority and fiduciary responsibility for the Association's assets.
How We Use the Endowment.
The Trustees annually determine a portion of the endowment income that will be used to support our operating expenses. While this amount has varied over time, it covers only a portion of the Association's yearly expenses - currently about 15%. Income from the various named funds is restricted for each fund's specified purpose.
Make a Gift to the Endowment.
Donors can direct their gifts to the general endowment or to one of the named funds. We are also happy to discuss the possibility of creating a named endowment fund for dedicated purpose.