{"id":9,"date":"2020-12-30T23:09:24","date_gmt":"2020-12-30T23:09:24","guid":{"rendered":"https:\/\/www.macalester.edu\/160-investment-office\/?page_id=9"},"modified":"2024-09-09T01:24:21","modified_gmt":"2024-09-09T01:24:21","slug":"governance","status":"publish","type":"page","link":"https:\/\/www.macalester.edu\/investments\/governance\/","title":{"rendered":"Distribution Policy"},"content":{"rendered":"<h3 class=\"wp-block-heading\">Distribution Policy<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Macalester endowment shall distribute spendable income equivalent to:<\/li>\n\n\n\n<li>Fifty percent of the allowable draw per unit of the previous year, increased by 2.0%; plus<\/li>\n\n\n\n<li>Fifty percent of the long-term draw rate of 5.0% applied to the 16 quarter market value average of the endowment unit value for the period ending November 30 of the fiscal year preceding the budget year.<\/li>\n\n\n\n<li>After computing the proposed draw, the draw amount per unit shall be compared to the unit value of the endowment on the November 30 date; the proposed draw per unit shall not be more than 6.0% or less than 4.0% of that value.<\/li>\n\n\n\n<li>The Administration and Finance Committee of the Board will allocate the spendable amount to operating and\/or capital budgets, or to a spending reserve.<\/li>\n<\/ul>\n\n\n\n<div style=\"height:100px\" class=\"wp-block-spacer\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Distribution Policy<\/p>","protected":false},"author":516,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-9","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/pages\/9","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/users\/516"}],"replies":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/comments?post=9"}],"version-history":[{"count":6,"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/pages\/9\/revisions"}],"predecessor-version":[{"id":223,"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/pages\/9\/revisions\/223"}],"wp:attachment":[{"href":"https:\/\/www.macalester.edu\/investments\/wp-json\/wp\/v2\/media?parent=9"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}