The Endowment Fund
It also serves to collect and hold gifts memorializing or honoring members to provide a lasting tribute to them. All memorials for deceased chapter members, donations honoring a member, bequests, not otherwise designated, and any other gifts specifically designated for the endowment fund are retained in perpetuity in the endowment fund, with only earned income available for distribution. No gifts for restricted uses will be accepted by the endowment fund.
Income from the endowment fund may be used for any purpose approved by the board; however, the intent of the endowment fund is to supplement the general operating budget by funding projects and events beyond its scope. Earnings can be applied to the general operating budget if the board feels this is the best use for them, but it is not intended that endowment fund earnings become a regular part of the operating budget, so this use is discouraged.
In general, the endowment fund is managed in a conservative manner with an emphasis on generating earnings rather than growth of principal. Recommendations to invest, divest, buy, sell, exchange and in all other respects to manage and control the assets of the endowment fund are made by the endowment committee and executed by the chapter treasurer.
All assets in the endowment fund are the property of the chapter and are held in separate accounts and not commingled with other Chapter funds. The endowment fund is audited or reviewed at least every two years and always when a new chapter treasurer is elected.
Endowment Fund Committee
The Endowment Committee provides the leadership for the management and expansion of endowment, the income from which is used to make grants for general or restricted purposes of the chapter. Besides income from unrestricted endowed gifts which would be available to the Board of Directors for the general needs of the chapter, endowed gifts may be restricted to conservation, education and outreach programs.
The Pisgah Chapter of Trout Unlimited (PCTU) Endowment Committee will solicit and accept gifts that are both consistent with its mission and that support its core programs, as well as special projects. Acceptance of any contribution, gift, or grant will be at the discretion of the Endowment Committee.
It is the intent of the PCTU Endowment Committee that any gifts to this fund will not be used for the general operations of the chapter.
The PCTU Endowment Committee will accept donations of cash or publicly traded securities. Gifts of in-kind services will be accepted at the discretion of the said committee. Certain other gifts, real property, personal property, in-kind gifts, non-liquid securities, and contributions whose sources are not transparent or whose use is restricted in some manner, must be reviewed prior to acceptance due to the special obligations raised or liabilities they may pose for the PCTU Endowment Committee.
The PCTU Endowment Committee will respect the intent of the donor relating to gifts for restricted purposes and those relating to the desire to remain anonymous. With respect to anonymous gifts, the said committee will restrict information about the donor to only those committee or board members with a need to know.
The Pisgah Chapter of Trout Unlimited
The Pisgah Chapter
Chapter Contacts
The Endowment Fund
The Pisgah Chapter of Trout Unlimited Endowment Fund was established by the board in January 2014.