Ji Ko Ji Jikoji Retreat Center, 12100 Skyline Blvd, Los Gatos, CA 95033, phone: (408) 741-9562

Jikoji's Endowment Fund

History/Definition:  The Endowment Fund was established in 2002 to provide a vehicle for donors to support Jikoji's long-term financial stability.  To accomplish this goal donations to the Endowment Fund have been invested in the Vanguard Star Fund ("VGSTX") a balanced index, "fund of funds".  The VGSTX fund provides for long-term capital appreciation and income by investing in a diversified group of other Vanguard mutual funds, rather than in individual securities.  All contributions to Jikoji designated for the Endowment Fund have been deposited in Jikoji's Vanguard account.

Goals and Strategy:  The Endowment Fund's goal of supporting Jikoji's long-term financial viability will be achieved by managing the Fund on the following basis:  (1) Until the Fund balance exceeds $100,000, its annual market appreciation in value and any donations to the Fund must be retained. (2) At such time in the future when the Fund balance exceeds $100,000,  its appreciation during each subsequent calendar year may be used to support Jikoji's activities as authorized by the Jikoji Board of Directors.

Emergency Borrowing:  After the $100,000 Endowment Fund balance has been achieved, up to 25% of the Fund balance may be "borrowed" but only if the Board determines that unusual financial demands facing Jikoji require it.  After such "borrowing" no further withdrawals from the Fund are permissible until the amount borrowed has been restored through repayment to the Fund from the Jikoji general fund, through contributions from donors, or through appreciation in the market value of the Fund.

Alternative Investments Opportunities:  Jikoji's Board may at any time invest the Endowment Fund with mutual funds, other than the Vanguard Star Fund, as best benefits Jikoji's long term interests, while retaining the Goals and Strategy as stated above.

 


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Jikoji website updated January 2014 —Technical questions, suggestions, or problems with the site? email: webmaster@jikoji.org