Page 20 - 2024 November Report

INDIGENOUS ENDOWMENT SCHOOLS MEETING REPORT (2) COMPLIANCE ISSUES
Rick pointed out that the distributions are supposed to be 5% of the total endowment each year. Apparently, not all schools have been meeting that requirement. He asked about formal endowment distribution policies. Not all schools have one. Both NAU and A*CF offered to share samples.
The schools shared some specific data on their endowments. Several schools are still in the building process, so no distributions have been made, yet. A couple of schools reported that they have more funds available than they have students needing scholarships. Bobby responded that if the agreement as it stands is not really serving students, then JSF is open to discussing options. He encouraged those schools to reach out to him.
BEST PRACTICES FOR INVESTMENTS OF ENDOWMENT FUNDS
Discussion on best practices for Endowment Fund started with the importance of funding the endowment as it builds sustainability for the programs. This is a trusted partnership meant to allow for long term funding to assist students at their institutions. Rick asked about formal investment policies and, again, there were mixed responses including “I don’t know”. Rick and several others in the room shared the importance of policies that set out specific goals and targets for asset allocations.
Rick asked if the schools would be willing to share information on their investment managers, and many agreed. Investment policies at the schools were also discussed with many schools offering to share their policy for reference. Endowments guarantee funding for future generations of students.
NON-SCHOLARSHIP NEEDS
Sherry led the discussion of non-scholarship needs at schools. She shared the data from the morning session, which led to the discussion on non-scholarship needs. The conversation mirrored the morning session; this group also mentioned how mental health has become an issue among the students. Other needs include emergency funding for mentorship, budgeting, childcare, and the value of AIBL chapters on campus.
CLOSING MATTERS
Sharon handed out the expense report forms. Lisa has sent the on-line survey invitation to everyone and displayed the QR Code to access the survey.
Bobby concluded the meeting by thanking everyone for their attendance and their active participation.
Page 18 November Report