The purpose of the Sam Houston Area Council’s Investment Fund is to assist in the financial requirements of the Council, in its delivery of a quality Scout program, in its service to its Chartering Partners and in its long-term financial sustainability. The Investment Fund of the Council is made up of unrestricted (board designated) net assets, temporarily restricted net assets and permanently restricted (endowment) net assets.
The Sam Houston Area Council manages its Investment Fund using the guidelines found in the Uniform Prudent Management of Institutional Funds Act.
The Sam Houston Area Council’s Investment Fund will only incur costs that are appropriate and reasonable in relation to the assets, the purposes of the Council, and the skills available to the Council. These costs, which are netted out from the market value of the fund prior to calculation of a distribution, are related to the audit, investment managers and the Council’s human resources responsible for the management and growth of the investment fund.
The spending policy of the Sam Houston Area Council is as follows: The maximum distributable income from the Investment Fund for any year will be calculated on the basis of market values of the fund determined at least quarterly and averaged over a period of not less than three years immediately preceding the year in which the appropriation for expenditure is to be made multiplied by 5%.
The Executive Committee may amend this spending policy.”
Ratified by Board of Directors June 21, 2010
For more information, contact Devin D. Koehler CFRE, Senior Development Director of Endowment at (713) 756-3321 or Devin.Koehler@shac.org.