Financial Disclosure

The Endowment EIN is 93-1021970 and its state I.D. Number is CT No. 756008.

IRS Charitable Organization Certification Letters:
    Year 1994

Tax Returns:
    2011 IRS Forms 199 and 990
    2010 IRS Forms 199 and 990
    2009 IRS Forms 199 and 990
    2008 IRS Forms 199 and 990
    2007 IRS Forms 199 and 990
    2006 IRS Forms 199 and 990
    2005 IRS Form 199
    2005 IRS Form 990

Other financial information regarding the Endowment and many other charitable organizations is available at the California Attorney General's web site.

 

Management of SchoolPower Endowment Funds
The SchoolPower Endowment Funds are invested for the long term with the goal of producing maximum total return with prudent levels of risk. The Endowment Board and its Investment Committee, comprised mostly of investment professionals and financial planners, monitor the funds.

The minimum target rate of return over time is equal to the required spending rate plus inflation as measured by the consumer price index (CPI). The committee meets quarterly and is currently mandated by a board-approved investment policy statement to invest the funds with a balanced approach of approximately 60% equities and 40% in fixed income or cash. The committee also currently uses primarily index funds or ETFs to minimize investment expenses. The equities are spread over a number of asset classes to further diversify the fund's holdings, which may also include a small amount of "alternative" assets.

In order to enhance the real value of the Endowment, the desired goal is to achieve total returns exceeding the previously described minimum. On an annual basis, the Endowment Fund shall make available to the Allocation Fund of the Endowment Committee, up to five percent (5%) of the Endowment's weighted-average market value of the past three fiscal years. This "smoothing rule" is to moderate year-to-year fluctuations due to changes in the Endowment's market value.

See the complete Investment Policy Statement.