An Endowment Fund for L’Arche Nehalem of Portland, Oregon, is hereby established effective April 18, 2000.

The goal of the Endowment Fund is to:

… Provide long-term financial stability, security, and growth to L’Arche Nehalem’s mission, goals, and operations;

… Ensure faithful and responsible stewardship of gifts.

The Fund will not be established as a separate 501(c)3 legal entity before it reaches a balance of $1,000,000. Such separate incorporation will be completed only upon recommendation of a professional fund advisor and by approval of the Board of Directors (Board).

Acceptance of gifts is subject to the Gift Acceptance Policy. For the initial 2 years of the Fund, 85 percent of unrestricted planned gifts shall be placed in the Endowment Fund, with the remaining 15 percent made available for current L’Arche Nehalem operating costs. After the initial 2 years, 100 percent of unrestricted planned gifts will be placed in the Endowment Fund, unless requested otherwise by the donor.

In addition to planned gifts, the Board may elect to transfer a portion of assets in the Operating Fund to the Endowment Fund.

Funds shall be invested according to the L’Arche Nehalem Investment Policy. Earnings shall be reinvested in full until the Fund balance reaches $100,000 (unrestricted and undesignated basis).

Donations to the Fund represent a perpetual investment in L’Arche Nehalem. As such, expenditures are limited to a portion of total assets in the Fund as determined by the Board, with the corpus of donations retained in the Fund indefinitely. Funds available are determined by taking the average investment earnings over the last three years of returns. At no time will this average exceed between 5 and 8 percent of the total Fund.

After the Fund reaches the $100,000 balance, the Board shall determine the amount to be made available each year to fund:

… Special needs and programs of L’Arche Nehalem, including funding for Core Members who have inadequate financial resources;

… Causes consistent with the mission of L’ Arche; and/or

… Planned giving program and Endowment Fund administration costs, if any.

Activities to be funded shall be specified in budgets that are reviewed and adopted by the Board.

If donations to the Endowment Fund have been specifically designated or restricted by the donor, the same procedure of using the average investment earnings over the last three years return, not to exceed 5 to 8 percent, unless otherwise designated by donor. Such designation of portion of returns will be considered and approved by the Gift Acceptance Committee before acceptance of the gift.

The Planned Giving/Endowment Committee, in concert with the Board and the Fundraising Committee, is responsible for:

a) developing and leading the implementation of plans and strategies to increase donations to the Endowment Fund;

b) organizing and making use of Board members, volunteers, donors, and staff to acquaint potential donors with opportunities for making gifts and bequests;

c) obtaining advice and assistance from volunteer experts in legal, financial, marketing and other aspects of endowment fund and planned giving program management;

d) Reviewing and revising, or proposing that the Board adopt revisions to, the Endowment Fund resolution and planned giving program on a recurring basis;

e) presenting to the Board an annual report of activities funded by the Endowment Fund; and

f) such other responsibilities related to the Endowment Fund and planned giving program as may be assigned by the Board.

The Finance Committee is responsible for:

a) Presenting to the Board a quarterly financial report on the status of the Funds and the Investment Policy pertaining to the Fund;

b) Safekeeping, managing, investing and transferring of cash and other assets comprising the Endowment Fund;

c) Seeking professional financial advice as needed; and

d) Such other responsibilities related to the Endowment Fund as may be assigned by the Board, some of which are also included in the Investment Policy.

If at any time L’Arche Nehalem of Portland, Oregon, be lawfully merged or consolidated with any other non-profit organization, all of the provisions hereof in respect to the Endowment Fund of L’Arche Nehalem shall be deemed to have been made for and in behalf of such merged or consolidated organization. This entity shall be entitled to receive all of the benefits of said Endowment Fund, and shall be obligated to administer the same in all respects in accordance with the terms thereof.

In the event of the dissolution of L’Arche Nehalem of Portland, Oregon, the Board shall be authorized to disburse the Funds, as it chooses, to other 501(c)(3) organization(s) that share the mission of L’Arche Nehalem.

Provisions of this Resolution may be amended as necessary from time to time by a majority vote of the entire Board given adequate notice of such action as stated in the By laws.

Approved by Board of Directors

April 18, 2000

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Kate Marshall

Board Chair

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Tom Kinzie

Board Secretary