Adopted February 9, 2000

GOALS OF THE ENDOWMENT

1. To provide a long term stable source of financial assistance to the Saratoga Union School District (SUSD) through SEF.

2. To augment SEF’s major grant to the SUSD.

3. To validate SEF as a fiscally secure corporation that is committed to future needs as well as to current needs of SUSD.

SOURCES OF FUNDING FOR THE ENDOWMENT

1. Donors designate the amount of their donation to be invested in the endowment fund.

2. One fund- raiser is designated to endowment (e.g. currently the Board of Directors of SEF has voted that all proceeds from car donations shall be deposited in the endowment. This decision may be changed by a majority vote of the Board of Directors of SEF).

3. Major donors are individually contacted to solicit endowment donations (emphasis should be placed on endowment giving only after a family has met or exceeded the donation necessary to cover the current cost of SEF funded programs for their child or children).

RULES ON INVADING THE ENDOWMENT

1. Earnings and appreciation from the endowment (defined to be any increase in value in the fund at the end of the SEF fiscal year in relation to the value of the fund at the end of the prior SEF fiscal year, less the amount of all principal contributions made to the fund in that fiscal year) shall be transferred annually from the endowment to the general funds of SEF and used to meet the goals of SEF and the current needs of the SUSD, unless at a properly constituted meeting of SEF, a majority of the SEF Board of Directors present and eligible to vote at such meeting vote to retain and reinvest all or part of such earnings and appreciation in the endowment fund.

2. Except as provided in paragraph 1 above, the endowment shall not be invaded in whole or in part at any time unless at least two-thirds of the Board of Directors of SEF present and eligible to vote at a properly constituted meeting of SEF vote to transfer such funds to the general funds of SEF to be used for SEF goals and the needs of the SUSD.

ADMINISTRATION OF THE ENDOWMENT

1. A committee will be appointed by the Executive Board of SEF to research, recommend and oversee the manner in which to invest the endowment funds.

2. The committee will report to the SEF Board of Directors and its chairman will be a Director of the SEF Board .

Questions? Send email to: SEF Endowment Donations

At a glance:

Long term stable source

Permanent fund whose principal cannot be spent for at least five years

Interest reinvested to grow the fund

Interest from the endowment will become significant portion of grants to SUSD

Stocks and appreciated property can be donated for deferred giving