SPSA Policy on New Awards

New endowments must be approved by Council.

A minimum $5,000 contribution is required to start an endowment fund.

A grantor making the initial $5,000 gift may specify general criteria for the award subject to approval by the Council.

No grant or award will be made until a funding threshold of $10,000 is reached or unless Council approves an award prior to reaching $10,000.

Proposed new awards below the $10,000 threshold should include a timeline and strategy for achieving the funding threshold.

Awards should be made annually unless a grantor specifies otherwise subject to approval by the Council. If returns on endowment investments decline such that making annual awards becomes problematic, the option of making biennial awards may be considered by Council.

The grantor agrees to assist in reasonable fundraising efforts.

SPSA should steward donors to endowments through special recognition.