Society Business

Endowment committee

Guidelines for establishment of a named endowment fund

We welcome all contributions of any amount to the NABS General Endowment Fund, or the other named funds, at any time. If an individual or group wishes to establish an additional named fund, the following guidelines apply. A named fund must have a minimum balance of $5,000 to be established. A named fund may be proposed in a letter to the Chair of the Endowment Committee, and must consist of at least $2,500 (in cash or pledges) at the time of the proposal. Additional contributions to the proposed fund may be solicited on the Endowment page of the Bulletin.

A proposed fund has 3 years from the time it is initially proposed to reach the minimum balance of $5,000. Once the minimum balance has been reached, the fund will become a separate entity, and disbursements of interest and dividends can begin. If a proposed fund does not reach the minimum balance in 3 years, the money received to date will be merged with the General Endowment. But, with the current policy of NABS providing matching funds for donations, your initial donation of $2,500 for a named fund would be matched by the Society, instantly reaching the $5,000 level for a designated fund! This matching policy is currently in effect until the Endowment reaches a total of $100,000 in funds. If you need clarification of the guidelines, please contact the Co-Chairs of the Endowment Committee.