As our endowment grows, it becomes an increasingly important source of revenue for the Council. A strong endowment sustains our camp and quality programming for future generations of Scouts and ensures we can:
- Create opportunities and memorable experiences for youth,
- Meet current and future program needs,
- Maintain a stable funding stream despite fluctuations in the economy,
- Lower our dependence on the other fundraising sources,
- Increase the Council’s ability to respond to immediate or emergency needs.
- Ensure the council’s long-term financial health.
Most importantly, the primary goal of the endowment is to enable Scouting to fulfill its expanding mission to reach more young people.
To be healthy and stable, the Council must meet its current operating budget, without exerting 100% of its energy on fundraising. After all, our mission is to broaden our cherished Scouting tradition and provide quality, values-based programming to all youth who want to participate, and not to raise funds. To date, the W. D. Boyce Council Endowment Trust Fund already contributes a modest 4% of the current operating budget from interest income. The Board of Directors would like to see that contribution rise to 20% of total operating budget.
How do we manage the endowment?
The W. D. Boyce Council Board of Directors managed our endowment fund until 2011. The Board decided like 71 other BSA Councils to consolidate fund management with BSA Asset Management LLC (BSAAM). The choice was guided by wanting to improve our earnings and lower the cost of management of the funds. Our endowment is now called the BSA Endowment Master Trust for the W. D. Boyce Council.
https://scoutingwire.org/how-bsaam-can-help-with-your-councils-investment-returns/
The money in the Endowment Fund is carefully monitored by the Investment Committee under the Board of Directors under guidelines approved by our Executive Committee of the Board of Directors.
The Council bylaws allow the use of 4% of the interest earned by the endowment to be used in the operating fund. These funds are used as normal income to the council to support outdoor programs, program supplies, and other opportunities to deliver the Scouting program to the youth in our Council. The fund management follows BSAAM policies as outlined here.
Who can contribute?
Endowments might seem to be the playground of the fabulously wealthy, and that could not be further from the truth. In fact, most charities, universities and other institutions operate endowments to help stabilize future revenue. And while larger donations are always welcome, every Scouter and parent in the Council can help build our endowment fund with more modest contributions. Our endowment was built up over time by gifts of all sizes from generations of Scouts, parents, and friends who feel a deep commitment to Scouting. Unlike other gifts, giving to the endowment is not just supporting the special tradition of Scouting today, but continuing one’s participation in it beyond one’s lifetime.
For more information contact:
Ben Blumenberg at 309 673-6136, ext 127, or by email: ben.blumenberg@scouting.org