The Endowment Fund
The Pisgah Chapter of Trout Unlimited Endowment Fund was established by the board in January 2014 and ratified by the Membership in February 2014. The purpose of the endowment fund is to enrich the Chapter and to foster long-term financial stability by providing a continuing source of funds for projects, and events that are beyond the scope and capacity of the operating budget, or to supplement the operating budget within certain restrictions.
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.
- Kiki Matthews
- Arnold (Skip) Sheldon
- Sara Jerome (Chapter President)
- Jim Rumbough (Chapter Treasurer)
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The Pisgah Chapter of Trout Unlimited
The Pisgah Chapter
Pisgah Chapter of Trout Unlimited is nestled in the Blue Ridge Mountains in Brevard, NC, and serves Henderson, Transylvania and Polk Counties. Chartered in 1969, the Chapter has dedicated more than 45 years to cold water conservation. From our humble beginnings of 29 members we have grown to nearly 400.
The Pisgah Chapter was the 34th chapter chartered by Trout Unlimited and the 3rd in North Carolina. That's quite a legacy when you consider that Trout Unlimited is a national organization with about 300,000 members and supporters organized into over 400 chapters and councils from Maine to Montana to Alaska.
Regular chapter meetings are held the second Thursday of each month except July, August and December at Guidon Brewing, 415 8th Avenue East, just north of downtown Hendersonville, Everyone is invited to come by for great fellowship and Dry Falls has an excellent beer selection and delicious food truck. During July, August, and December, we will be meet socially at Dry Falls Brewing with no chapter business planned.
Our meetings feature interesting guest presenters, updates on national, state, and local issues, and upcoming volunteer opportunities. Membership is not required to join Pisgah TU meetings and everyone is welcome!
Keep up with all Pisgah Chapter events and updates by signing up for our monthly newsletter, Snags & Snarls. By signing up for our email newsletter, you can also receive chapter emails about important announcements and events. If you wish to be included in our email list, please let us know by using the the Contact Us link below:
Thanks to many years of good stewardship and the continued generosity of generations of members, Pisgah TU enjoys a firm financial footing and as a result is able to commit to effective partnerships with other conservation organizations, and to longitudinal programs that require significant financial commitment over time, like the Davidson River Habitat Enhancement Project.
We invite you to join Pisgah TU to get more involved in trout conservation at the local, state, and national level. You will meet new friends and also learn a lot of great fishing tips from your fellow members. Click the Membership link on your right to learn more about how to join!
The Endowment Fund
The Pisgah Chapter of Trout Unlimited Endowment Fund was established by the board in January 2014.