EVMS Foundation Spending Policy
The spending policy is determined by the EVMS Foundation Investment Committee based on the recommendation of the external investment consultant and the best practices of other like institutions. The EVMS Foundation makes funds available to EVMS for the restricted purposes of its various endowed funds according to a formula that is designed to balance the need for both current spending and long-term growth. Theis spending policy allows the EVMS Foundation to make an appropriation of 4.5 percent of the average market value of the gift corpus plus any unrealized gains or losses. Funds available include interest income and realized gains or losses, plus any unexpended balance from the previous year.
Board of Visitors Approved: November 30, 2003
Board of Trustees Approved: March 16, 2004