September 21, 2021 9:13 am
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Is it common for an education foundation to maintain a reserves policy? If so, does anyone have an example of one?
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September 21, 2021 9:18 am
Yes, it is common and best practice. Reserves were particularly important with the onset of the pandemic for operational costs. The policy varies, but is typically a percentage of the income received annually and is reflected in the budget. The percentage is typically 10-20%.