December 31, 2007 Adjustment to Endowments’ Spending Bases
Paul A. Robell, Vice President for Development and Alumni Affairs
Once again I am pleased to share with you that endowment funds have received another increase in spending bases. You will recall that the Foundation recalculates the spendable base of each endowment quarterly. As of December 31, 2007, virtually all endowment funds have received an increase to their spendable bases (except for the newest funds). The average increase was .71%; you may confirm the adjustment to a particular fund by checking on FAS.
The spending transfer for each endowment will continue to be 4% of the growing spendable base. This adjustment represents a $7.2 million increase in spendable bases across the endowment pool.