Financial reserves and endowment policies
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
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 email@example.com.