AFBHS funds are designated as either Unrestricted, Class Endowment, General Endowment, or Named Endowment Funds.<\/p>\n
Unrestricted Funds<\/strong> \u2013 These funds, obtained from donations, are available to meet operating and scholarship program needs as determined by the Board of Directors. Any gifts made without stipulation will be treated as unrestricted.<\/p>\n Class Endowments<\/strong> \u2013 These endowments, named for individual graduating classes of BHS, are funded by unrestricted gifts from members of a single class that exceed $2,500 in a single fiscal year. \u00a0Class endowments are invested for growth to a level specified by the Board, currently $50,000, at which they can provide an additional scholarship in the name of the Class..\u00a0 Giving directly to a Class Endowment is not permitted.<\/p>\n General Endowment Fund<\/strong> \u2013 Unrestricted funds not needed for expenses, the annual scholarship program or Class Endowments may be deposited by the Board of Directors into the General Endowment Fund. These funds will be considered permanent endowment and will be invested for growth, with the goal of achieving a level at which the earnings of which will make possible scholarships beyond those that can be supported by annual donations. \u00a0Earnings of the General Endowment may be reinvested or used for scholarships at the discretion of the Board.<\/p>\n Named Endowments<\/strong> \u2013 Any individual or group may create a Named Endowment in memory of, or to honor, an individual, family or other group.\u00a0 The value of the gift required within the first year to create a Named Fund will be determined annually by the Board of Directors (currently $1000). After creation, any individual may donate any amount directly into a Named Fund.\u00a0 A Named Fund will be invested for growth with the objective of reaching the level required to become a Permanent Named Fund.\u00a0 That level is determined at initiation by the Board (currently $50,000).\u00a0 Earnings from a Permanent Named Fund will be used to provide scholarships in the name of the Fund. \u00a0Named Funds that do not reach the level of permanency within 5 years will be reviewed annually by the Board in conjunction with the principal donors to the fund, if possible, to determine whether to maintain the fund with expectation of permanency or to find a way to honor the name of the Fund with other possible uses of the funds. Donations specifically designated for one-time scholarships are not accepted by AFBHS.\u00a0 Anyone wanting to provide one so should contact Belmont High School directly.<\/p>\n Current Named Endowment Funds<\/strong><\/p>\n AFBHS funds are designated as either Unrestricted, Class Endowment, General Endowment, or Named Endowment Funds. Unrestricted Funds \u2013 These funds, obtained from donations, are available to meet operating and scholarship program needs as determined by the Board of Directors. Any gifts made without stipulation will be treated as unrestricted. Class Endowments \u2013 These endowments, named … Continue reading Funds and Endowments<\/span> \n
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