Endowment funds are an important attribute of the Casa Foundation’s financial stability. At the end of fiscal 2019, 28 funds provided $236,905 in distributions.
Since fiscal 1998, endowment funds have grown from a total of $293,989 to $8,052,115. All funds are invested, and each year a percentage is distributed from each fund for the purpose it was intended. The current board policy is to distribute 4% of a 12-month average balance.
Most of the Foundation’s endowment funds have been established by residents, but a few have been established by the board of directors. Those include the Tilburg Endowment, the General Resident Hardship Endowment, the General Scholarship Endowment and the Special Care Program Endowment.
Donor-established endowments are considered permanently restricted assets whose corpus will not be invaded. This is to protect the value of the funds during recessionary periods, if necessary. Endowment funds are especially attractive for donors who want to leave named family legacies.