Education Endowment Fund
The NSP Education Endowment Fund (the “Fund”) is invested under the direction of the national treasurer and executive director in a manner consistent with the NSP Investment Policy Statement and the Colorado Uniform Prudent Management of Institutional Funds Act (“UPMIFA”). Sources of support for the Fund can include, but are not limited to, gifts and bequests from NSP members, subunits, proprietorships, partnerships, corporations, associations, estates, trusts, and foundations that, in all cases, are either expressly designated for inclusion in the Fund or that can reasonably be regarded as having been made in response to a specific written appeal soliciting contributions to the Fund. The Fund shall be used for the development, maintenance, delivery, modification, and outreach of NSP education programs, provided that, in the event that any designation, restriction, or condition on distributions of the Fund should, in the judgment of the board of directors of the NSP, exercised in good faith, become in effect unnecessary, undesirable, impractical of fulfillment, or fundamentally inconsistent with the educational needs of the NSP, then the Fund shall be subject to such alternate designations, restrictions, or conditions on distributions of the Fund which, in the judgment of the board of directors of the NSP, exercised in good faith, are as similar as practical to the original designation, restriction, or condition, and which are in fact necessary, desirable, practical of fulfillment, and fundamentally consistent with the educational needs of the NSP.
Without regard to the actual income or historic dollar value of the Fund, the NSP shall be authorized to distribute annually from the Fund such amounts as may be recommended by the executive director and approved by the board, as may be consistent with the NSP budget, and as may be prudent under UPMIFA, provided that it is the expectation of the board that such expenditures shall normally not exceed seven percent per year of the average of the net fair market value of the assets of the Fund on the last business day of each of the three calendar years preceding the year for which the distribution is being made (or such lesser number of calendar years during which the Fund has been in existence and funded), unless the board, after deliberation, determines that particular circumstances warrant a greater distribution.
The national board and the executive director promote the Fund in an effort to attract donations, and may provide incentives for donations in the form of publicity, awards, indicia of appreciation, or other recognition. The NSP shall be authorized to charge the Fund or to reimburse itself periodically from the Fund for all reasonable expenses incurred by the NSP in administering the Fund, including the expenses of professional advisers, managers, custodians and other agents and advisers to the extent that such expenses are not otherwise paid directly out of funds under professional management on the NSP’s behalf, expenses directly associated with soliciting contributions to the Fund, and expenses directly related to carrying out the purposes of the Fund, so long as such expenses are appropriate and reasonable in relation to the assets of the Fund, the purposes of NSP, and the skills available to NSP.
If you are interested in giving to the Education Endowment Fund to support the further development of NSP education programs, please contact the finance department at the NSP office, either by email or by calling 303-988-1111.