June 30, 2009 Report from Scholarship Endowment Fund Trustees

Report from the Endowment Fund Trustees

 

 

The ASWA Seattle Chapter No. 9 Scholarship Endowment Fund was established to encourage, receive and administer gifts in perpetuity for the purpose of granting scholarships for college and post-graduate studies in the field of accounting.

 

During fiscal year ended June 30, 2009, the fund received $4,375.00 in permanently restricted contributions.  The fair market value of the principal balance was $132,092.15.

 

The Scholarship Endowment Fund earned $5,344.77 during the year.  This amount has been transferred to the Chapter's scholarship fund.

 

The trustees have continued to use the same investment management firm for investment advice.  Karen O'Brien and Joe Hebert of TrueNorth Financial Services LLC have agreed to provide the trustees with investment management advice on a pro-bono basis.  We very much appreciate their professional assistance.

 

Contributions, made payable to ASWA Seattle Chapter No. 9 Scholarship Endowment Fund, may be sent to the chapter treasurer or to Susanne Lindsley, Trustee, P O Box 11320, Bainbridge Island, WA  98110.

 

 

Respectfully submitted,

 

Susanne Lindsley, Trustee

Theodora Sherman, Trustee

Linda Landerdahl, Trustee