Page 29 - 2020 October Report

Resilience
Grant Program Committee minutes (draft) (6)
which is popular among younger users. Angie suggested that Instagram, a subsidiary of Facebook that focuses on photography and video, seems like a more logical next step.
11. IndigenousPeoplesPrograming a. Endowments report
An endowment report by Rick had been circulated. The report states that JSF has invested over $15 million in endowments for Indigenous students majoring in business or entrepreneurship. JSF has 10 endowments with 10 colleges and universities. In addition, 2 national Native organizations have endowments: 2 at the American Indian College Fund and a developing endowment at Native Forward Scholars Fund (formerly American Indian Graduate Center). There are 3 developing endowments: Scottsdale Community College, Fort Lewis College, and Northwest Indian College. Gonzaga University’s endowment was not included because the endowment is for a master’s degree program.
Rick said the Foundation is starting to see the results of the decision to invest in endowments. JSF has reached a point at which there are more business scholarships being funded through endowments than direct scholarships. He pointed out there are some vast differences in the investment returns, some of which are the result of the differences in the reporting year for some of the schools. Efforts are now being made to standardize this. Some of the schools are not entirely in compliance with their endowment agreements. The plan is to keep meeting with those schools annually. This year, a meeting with the endowment school representatives is being held in conjunction with the annual Entrepreneurship Scholarship meeting in Scottsdale. Leadership changes have been a problem at some of the schools, such as College of Menominee Nation, Salish Kootenai College, Turtle Mountain Community College and Sinte Gleska University. During the discussion, the Committee agreed that staff and the Indigenous Peoples consultant develop a written strategy to oversee the endowments.
A question was asked about whether JSF has ever given additional funding to existing endowments. This is something JSF recently did for one institution, Oglala Lakota College. Early in the pandemic, many of the schools received an influx of federal dollars that possibly caused them to lose sight of the endowments. At the same time, some of these schools were able to attract major funding from philanthropist MacKenzie Scott because of the stability JSF helped create. Endowments are important culturally and also speak to JSF’s credibility. They affirm the Foundation’s commitment to stay in Indian Country long term.
Staff and the Indigenous Peoples consultant were directed to develop a strategy for overseeing the colleges and universities with endowments that JSF helped build.
b. Linkage report – Gonzaga University
A report by Sherry on Gonzaga University’s MBA-AIE program had been circulated. A comment was made that the report was very well done. Because Sherry’s illness made it difficult for her to speak, the Committee agreed to postpone her presentation and discussion until December.
c. Other grant opportunities
A report by Sherry had been circulated. Again, because of Sherry’s illness, the Committee opted to postpone discussion on this until the December meeting.
d. IAIA endowment
An application from IAIA had been circulated for $600,000 with a 1:1 match to establish an endowment. Also circulated were notes from a videoconference held on August 1, 2022. IAIA has been in JSF’s Entrepreneurship Scholarship program since 2009. In 2021, discussions began
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