October 9, 2020 9:31 am
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Hi all- does your foundation have any specific policies related to how many months or dollars you have in your reserve or in how they will build the endowment? For instance, I know some foundations hold back 10%+ of all unrestricted donations to build their endowment or reserve. If you have a formal policy, that's great-- but if it's informal, that's okay too. Just looking to hear what everyone is thinking
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October 12, 2020 1:06 pm
Hi Katherine,
Thank you for posting your question here! Foundation Innovation doesn't have any samples that apply, but hopefully other education foundations will share what they have.
Lauren
Jim Barshop September 29, 2020 12:54 pm
@fi-consultant-laurie
Thank you so much for your quick response! I'm blown away by this resource!
We did move past $1 million in our fund, so the board wants to research the best use of those funds moving forward and if an endowment is the right plan. We have never tapped into permanent funds in the past, so it sounds like it may be a good option.
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December 3, 2020 4:49 pm
Hi Katherine, seeing this a little late. Yes, we have in our bylaws that we will take 25% of all unrestricted funds through the year and save in our Permanent Funds. We did this with the goal of reaching a million. Now that we are there, we are trying to decide how we want to transition this into a full endowment. I'm happy to share our wording if you email me at alane@neisd.net.