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Foundation outlines endowment management; first projects to fund Young Explorers Center and Petra exhibit
Summary
Foundation representatives described parking a new endowment in short‑term CDs before moving it to a main investment portfolio, adopting a 5% spending policy on interest, and using initial interest to fund a Young Explorers Center and a Petra exhibit that includes a full skeleton.
Foundation and museum staff told the committee a recently received endowment gift will be managed by the museum’s foundation with the goal of producing visible early impact and sustainable support.
Ryan explained the foundation’s approach: newly received funds were initially placed in short‑term three‑month certificates of deposit, then will be moved into the main investment portfolio. The foundation plans to spend approximately 5 percent of investment returns (spending interest) annually; the first allocations are expected each Oct. 1. Early estimates suggested initial annual spending might be in the $250,000–$300,000 range, though Ryan emphasized that exact amounts will depend on investment performance and foundation decisions.
Joe said the first two projects identified for early interest spending are the Young Explorers Center and a large Petra exhibit that would display the full skeleton donated by the donor. Foundation staff said they expect a mix of funding mechanisms — grants, individual gifts or endowment revenue — to implement priorities and that the foundation’s finance committee will recommend annual allocations to the full foundation board.
The committee welcomed the plan and raised no formal objections; trustees noted the importance of demonstrating visible stewardship of the donor’s gift.
