USOF POLICY -- FUNDS ON ENDOWMENT

Purpose: The purpose of the Funds on Endowment is to conserve charitable donations and gifts to USOF by keeping them on deposit with The United States Orienteering Federation Endowment Fund, Inc., which will manage and invest them and use the income for the benefit of the United States Orienteering Federation.

Administration: The Funds on Endowment is administered by the USOF Board of Directors. It is a restricted fund. Disbursements may not at any time exceed the cash balance in the fund.

Sources: The source for support of the Funds on Endowment:

1. Charitable contributions and gifts designated for the Endowment Fund.
2. Transfers from the USOF Operating Fund authorized by the USOF Board of Directors.
3. Transfers from the USOF Investment Account authorized by the USOF Board of Directors.

Uses: Monies in Funds on Endowment are disbursed to the USOF Endowment Fund, Inc. by majority vote of the USOF Board of Directors.

11/03/2001

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