Permanent Endowment Clause Samples
Permanent Endowment. Ordinary distributions to the Nonprofit shall be made from the Fund each calendar year in the amount requested by the Advisor up to a cumulative limit as determined by the spending policy of the Foundation for such funds. The current spending policy is 5 % of the value of the Fund determined as of the preceding December 31, but this policy may be adjusted by the Foundation from time to time. Any portion of the amount available for distribution which is not distributed to the Nonprofit in one year may be distributed in a subsequent year. No additional distributions shall be made from the fund.
Permanent Endowment. The Unincorporated Charity Trustees shall procure that the Company becomes the corporate trustee of the Permanent Endowment.
Permanent Endowment. In addition to the Initial Financial Requirement and in accordance with the endowment agreement, concurrent with recordation of this Conservation Easement Grantor shall pay to Grantee an endowment in the amount of Dollars ($ .00) (“Maintenance and Monitoring Endowment”). The Endowment is for the purpose of fulfilling Grantee’s obligations under this Conservation Easement.