Endowments

The minimum amount to establish a Foundation endowment is $15,000. Most endowments are held for scholarships, although endowments can be set up for a range of purposes.

The Foundation has the following investment principles:
1. Investments shall be made solely in the interest of the Foundation.

2. The Foundation shall be invested with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters would use in the investment of a Foundation of like character and with like aims.

3. Pursuant to UPMIFA, the Foundation will consider the following factors, if relevant, in managing and investing each donor fund, except as otherwise provided by a fund agreement:
a. The purposes of the Foundation;
b. The purposes of the donor fund;
c. General economic conditions;
d. The possible effect(s) of inflation or deflation;
e. The expected tax consequences, if any, of investment decisions or strategies;
f. The role that each investment plays within the overall investment portfolio;
g. The expected total return;
h. Other resources of the Foundation;
i. The needs of the Foundation and the donor fund to make distributions and to preserve capital; and an asset’s special relationship or value, if any, to the purposes of the Foundation or donor fund.

4. Cash is to be employed productively at all times by investment in short-term cash equivalents to provide safety, liquidity, and return. As soon as it is practical, the SCCEF will invest in institutions within the FDIC insured limits.