UCE Endowment Fund Distributions and Deadlines: October 8, 2021

We get to give away money; awesome. This is going to be fun! remarked a new Endowment Fund Trustee. An oversimplified statement, he knew, but essentially true. 

But, UCE members may ask, where does the money come from that is given away? 

First, it should be made clear that the money is not given away. Instead, it is used to fund grant applications which are submitted to the Endowment Committee for review and then recommended to the Board of Trustees for final approval. These proposals may support UCE directly or the larger community. The five purposes for use of the distribution money are stated in the UCE Endowment Fund Bylaws. 

The amount of distribution or disbursement money is 

capped at 5% of the value of the Endowment Fund principal as determined on December 31 of the preceding year. Again, this is specified in the UCE Endowment Agreement Bylaws.  

For fiscal year 2021-22, the amount available for distribution or to give away was $87,729. 

That’s a lot of money! Thanks to generous donors and the stock market, the Endowment Fund has grown substantially. Deadline dates for application submissions were implemented a few years ago as a way of making the application process as fair as possible. 

Thinking ahead? The deadline dates for fiscal 2022-23 will be May 31, 2022 (accepting applications for the next fiscal year), Oct 31,2022 and January 31,2023 (if funds remain available). 

This fiscal year, 2021-22, the disbursement funds will be completely allocated or given away after the October 31 deadline.  

The possibilities of this amazing resource, the UCE Endowment Fund, have been discovered! 

If you have questions about the Endowment Fund, please contact Margaret Schatz, mesharbor@gmail.com, Tom Hempfling, thempfling45@gmail.com, or Bill Hartgering, BHartgering@gmail.com.