Endowment Fund
| Contact: |
vpfinance@mcgilleus.ca, president@mcgilleus.ca |
|---|---|
| Amount | |
| 2016-2017 | $250,000 (initial) |
The Endowment Fund of the EUS is a new addition, starting Winter 2017. The Endowment Fund shall encompass the entirety of the Long Term Capital Account, minus the current year’s balance, and part of the liquid reserves of the EUS within a portfolio managed and invested by our banking partner, RBC.
The fund is meant to keep generate revenues through our surplus in order to finance large, long term projects, in the future. The funds shall be invested in a low risk portfolio yield between 3% and 5%, on average, per year. The decapitalization of the endowment fund is currently being written.
Allocation
The decapitalization of the endowment fund is being written as we speak. It shall be done in a similar manner as the Long Term Capital Account except that we have to transfer money from the RBC’s Wealth Management accounts to our accounts which takes 24h. Our withdrawal period might be longer internally and will, mostly likely, require extensive documentation and council approval.