ASA News: Endowment Fund is Working For You
That Endowment Fund is managed through the combined efforts of the Board of Trustees of the Education Foundation and the Endowment Investment Committee (EIC). The EIC is solely responsible for the investment decisions regarding the fund. This group meets each quarter to review the returns on the investments and make any changes to the nature of the investments. In spite of the market's recent volatility, the Fund has ended the past two years with positive returns (10.1% in 2000 and 2.2% in 2001) thanks to the EIC's excellent leadership.
The Board of Trustees meets at least twice per year to review the Foundation's current programs and future projects. This is the group that makes the decisions on which programs receive funding each year, and what will be researched and developed in the coming years.
By keeping these two groups separate, it allows each to focus on their given task - one is investment and one is education.