Seneca Land District    
of the Barbershop Harmony Society       

Endowment Fund Rules

From the current SLD District Policy Manual, revised 2008:

4.07  SENECA LAND DISTRICT ENDOWMENT AND MEMORIAL FUND

A)  A special fund known as the Seneca Land District Endowment and Memorial Fund (the Endowment Fund) has been established as a Restricted (Named) Endowment, as described in Paragraph 4.05 of the SLD Rules and Regulations.

B)  The policies and regulations established by Harmony Foundation shall govern the operation of the Endowment Fund.  These policies currently include the following:

1)   As an endowment fund, the principle cannot be withdrawn.

2)   Money cannot be withdrawn from the Endowment Fund until the annual income available for distribution reaches at least $250.

3)   Harmony Foundation will assess a one-time administrative fee on all new contributions, and on the annual investment income (Realized Income).  These fees will be five percent.  No fee is assessed on withdrawals.

C)  Contributions to the Endowment Fund shall be accepted in any form allowed by Harmony Foundation, including life insurance, wills, trusts, and cash contributions.

D)  Gifts to the Endowment Fund shall be identified so that Harmony Foundation can acknowledge the donor. 

E)   The Endowment Fund Committee shall give recognition to contributors in a manner that shall include, but not be limited to, publication of his (her) name in the “SMOKE SIGNALS.”

F)   The Endowment Fund Committee shall submit an annual report of the Endowment Fund activities to the District House of Delegates, including a projected estimate of funds available for projects in the coming year.

G)  The Endowment Fund Committee shall be responsible for initiating, and coordinating fund-drive activities. 

H)  Publicity about the Endowment Fund shall make it clear that this is only one of several options for contributing to Harmony Foundation.  Donors shall be free to consider any other of the Society’s Named Funds, or the unrestricted fund which benefits the whole Society.

I)    Rules for allocation of the interest earned by the Endowment Fund

1)   Only the SLD Endowment Fund Committee shall allocate the interest earned by the District Endowment Fund.

2)   The SLD Endowment Fund Committee shall invite applications for funding by email contact with all registered SLD quartets and chapters in January of each year. Applications will be due by April 1 for projects or activities intended for the twelve months following June 1. Preference shall be given to projects intended to improve performance skills.

3)   Applications must include an accurate and informative description of the project, a current 12-month working budget of the quartet or chapter, an accurate estimate of project costs, and as much information as is necessary to properly evaluate the project and request.

4)   Upon completion of a project supported by the Endowment Fund, the recipient must provide to the Endowment Fund Committee documentation showing that the money was actually spent on the project (copies of receipts, cancelled checks, etc.). Failure to provide such documentation shall be grounds for denying any future request from the quartet or chapter. Any grant money not spent on the project shall be returned to the District to be allocated by the Endowment Fund Committee.

5)   The Endowment Fund Committee may not provide funds to any individual, quartet, or chapter in excess of 25% of the previous year’s interest and dividend earnings. 

6)   The Endowment Fund Committee shall evaluate each funding request with due consideration to whether or not the quartet or chapter has taken advantage of educational opportunities sponsored by the District at HX Camp, Pow-Wow, and Top Gun School, as well as free coaching from qualified SLD or area coaches. Further, the Endowment Fund Committee shall evaluate each request without regard to any prior history of funding so long as the requesting group has provided the expected documentation of the use of funds.

7)   SLD Endowment Fund Committee members may not be involved in the application process for funding of projects, either directly or indirectly, other than to advise the applicants of the mechanics of the application process.

8)   The Endowment Fund Committee shall make and communicate its funding decisions by May 1. Decisions of the committee that are consistent with these rules are final and not open to appeal.