California State Foster Parent’s Association Endowment Fund
The CSFPA Endowment Fund has been established for the purpose of creating a permanent fund that will generate a continuing source of annual operating income for the CSFPA. The goal of the Endowment Fund is to obtain a basic “nest egg” of two million dollars ($2,000,000) through donations, fund raising projects and investment earnings, which shall be deposited into the basic fund and re-invested until such time as the two million dollar goal is reached. However, once the principal balance of the Endowment Fund attains a value of one million dollars ($1,000,000), the net investment annual earnings may be withdrawn and used in support of the CSFPA’s annual budget requirements, but only the investment earnings may be used. Donations and fund raising projects will continue to be deposited into the basic endowment fund account until the two million dollar goal is reached. Once this goal is reached the fund shall maintain a minimum balance of two million dollars. All requests for withdrawals must be in writing, approved by the CSFPA Board of Directors, and signed by the CSFPA President, the CSFPA Treasurer and the CSFPA Endowment Fund Chairperson (all three must sign). Checks written by the investment institutions(s) must be made payable to the California State Foster Parent Association (CSFPA).
The Chairperson is to promote fund raising activities including seeking donations and grants from individuals, businesses and corporations. Ideally, the chairperson will have grant writing experience or seek out training to that end as well as establish savings and investment accounts in the name of the CSFPA Endowment Fund. The chairperson will also chair a subcommittee appointed by the CSFPA Executive Board and approved by the Board of Directors to assist in promoting the fund as well as evaluating and recommending investment opportunities. The Chairperson will recommend procedures to promote support for funding projects to the CSFPA Board of Directors for approval.
CSFPA Endowment Fund Job Description
Develop and evaluate various means of obtaining grants and donations from businesses, non-profit organizations, and the public to fund an endowment project in support of the CSFPA. The purpose of the endowment project is to provide an income to support the CSFPA’s goals, sustain the Association, and expand its services to foster parents and foster children throughout the State. The committee will also develop and recommend alternative investment options to the ExecutiveBoard for approval and implementation.