The spending plan includes the following arrangements: (a) There will be an attempt to increase the value of the endowment to compensate for annual inflation to avoid depreciation of the principal’s present value. (b) Investment income is defined as the sum of interest, dividends, realized gains and losses and unrealized gains and losses, less management and administrative fees. (c) The balance remaining after the principal is adjusted for inflation, management and administrative fees deducted is available for disbursement. Grants will be calculated based on a five year rolling average. Prior to five years, the disbursements will be made based on the rolling average of the accumulating years. (d) The available investment income will be distributed according to the wishes of the donor.
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