CSPE EDUCATION FOUNDATION ENDOWMENT FUND

Policy

 

Approved June 21, 2003

Reviewed June 7, 2008

 

 

  1. The CSPE Education Foundation has established an endowment to help provide for the future prosperity of the organization.

 

  1. Effective immediately, the CSPE Endowment shall have the following funds in it to promote the organization’s growth

a)      General Endowment (combination of the previous general and scholarship endowment)

b)      Ingersoll Endowment

 

  1. The CSPEEF Endowment cannot be spent to cover bills, debts, grants, or overall Fiscal Year losses of the organization or any of its entities without authorization by the CSPEEF Board of Directors.

 

  1. At the close of every fiscal year, 50% of the net earnings for the year (if there are net earnings) will be attributed to the Endowment.  The CSPEEF Board of Directors will make the distribution to the specific funds within the CSPEEF Endowment as it sees fit.

 

  1. Interest earned from the endowment funds will be used to help defray operating costs of the organization.

 

  1. This policy replaces any previous policies pertaining to Endowment or Memorial Scholarship funds.

 

  1. This policy will be reviewed annually and amended as necessary.