 |
 |
 |
 |
 |
 |
 |
|
Sign up to receive PND e-newsletters. |
|
| |
|
| Re: Quasi Endowment - more information needed
Posted by Tony Poderis   on 1/4/2008, 2:25 pm, in reply to "Re: Quasi Endowment - more information needed"
VIP Poster
Consider that it is possible your organization is taking this concept to a point of being far too complicated than it should be.
Only when a donor of endowment states absolutely that her or his money---the corpus---cannot be spent under any circumstance, do you then enter that restriction into your financial policy manual. With such a fixed, perhaps unyielding, restriction, some terms must be set regarding what happens to the corpus should the organization go out of business.
Otherwise, just as I detailed in my lengthy message to you, your own board of trustees, with their consensus-driven development of policy, can account for any and all of the variables you set forth. And with those conditions operating for any length of time, they can be changed when deemed appropriate by the board. There is nothing “quasi” about such an exacting and clear policy.
My respectful suggestion is that you forget quasi and not have your folks take what is a rather simple process and practice into scholarly and esoteric heights.
With all of the latitude you have, you make your own guidelines and rules. Could be you are not finding much, if anything of meaning between “quasi” and “true” endowments, because they do not exist, except in the form of the suggested policy outline I provided---which apparently is not of use to you.
Quasi makes me queasy in this instance, because the rules and regulations your own board sets out regarding its endowment funds, is not merely a resemblance to a so-called “true” endowment fund. It has a legal and official status, and has explicit intent. There is nothing quasi when it comes to other people’s money which is given to your organization. It is their true and real treasure.
Tony
Tony Poderis
http://www.raise-funds.com
- Fund Raising Forum Library: 50 feature articles
- Exhibit & Document Library: 98 items
- Potpourri Library: 10 Incidental/essential articles
• Permission to reproduce any material is not required
|
| |
