ENDOWMENT FUND

 

The Endowment Fund was established in mid-1980 as a separate depository for bequests and donations to the WSA not designated by the donor for operating expenses.  It also accepts any other funds received by WSA which the Finance Committee with the approval of the Executive Board believes should be retained as investment capital.  The fund is designed to assist in financing major maintenance or other capital expenditures and to assure continuance of uninterrupted services to the members should a temporary financial problem develop.  Monies in the Endowment Fund are invested by three individual Trustees appointed by the Executive Board, each of whom has considerable experience in investment management.  A Boston bank with a large trust department serves as custodian of the Fund.  Ultimate responsibility for the management of the Fund and of its soundness rests with the Executive Board.

 

Endowment Fund Managers:

Daniel S. Ahearn                    

Lawrence A. Hutchings          

James R. Willing