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:
2005 IRS Form 199
2005 IRS Form 990
2006 IRS Forms 199 and 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 government income securities or cash. The committee also currently uses index funds or "i" shares to minimize investment expenses. The equities are spread over a number of asset classes to further diversify the fund's holdings. In order to enhance the real value of the Endowment, the desired goal is to achieve total returns exceeding the previously described minimum.