The Endowment Fund
The Sarasota Audubon Endowment Fund was set up to ensure our long-term health. Years ago, we set up endowment accounts in both the Gulf Coast Community Foundation and the Community Foundation of Sarasota County. All endowment donations received by Sarasota Audubon are divided equally between these two endowment accounts.
Both community foundations invest our funds based upon a conservative formula set up by Sarasota Audubon’s Endowment Committee and any increases as a result of capital growth or by dividends are reinvested into the funds. We are fortunate that Sarasota Audubon has not needed and does not use any of these funds. The purpose is to grow the endowment funds so that if ever needed, we would not have to touch the principle in these funds.
In addition to the endowment funds, the board of directors sets aside funds each year for reasonable and timely eventualities.
These designated funds are:
1) Building Fund
2) Education Fund
3) Scholarship Fund
4) Quad Fund.
Each of these funds can be used annually for their designated purpose as determined by the board of directors, thereby leaving our endowment funds intact.