Appendix A
Asset Allocation Guidelines for Long-Term Investment Portfolio

In general the equity percentage of the portfolio, consisting of the equity portion of any index fund as well as holdings of stock in individual companies, will be between 60-70%; the cash and fixed income portion between 30-40%.

The Investment Committee may authorize increasing the equity portion to as high as 75% or as low as 50%. To go to an equity position higher than 75% or lower than 50% requires Board approval.

To avoid losses due to sudden changes in asset values, any adjustment of the allocation that requires a sale of more than $10,000 of assets shall be implemented by selling not more than $5,000 per month, except by recommendation of the Investment Committee and approval of the LWVMD Board.

Appendix B
Madeleine Ellicott Founders Fund

Purpose: Established in 2016, the Madeleine Ellicott Founders Fund (MEFF) is an investment-based Board-designated endowment fund intended to generate a stable income stream to support the general operations of the League. Under specified conditions outlined here, MEFF assets may be liquidated to meet the financial needs of the League.

Duration: Determined by the Board.

Primary sources: Planned giving (appreciated stock gifts, charitable trust gifts, estate bequests)

Use of funds: The general policy is to preserve the corpus of the MEFF. The amount to be made available to meet operating needs of the LWVMD will normally be determined as part of the annual budgeting process. Annual distributions from the endowment fund shall be based on the following principle, contingent on market conditions and League requirements:

  • an amount equal to up to 4% of the average, as of the end of each of the immediately preceding three years, of the total value of the Madeleine Ellicott Endowment Fund. Until three years have elapsed, the 4% will be calculated on the value of the account on July 1, 2019.
    realized income not withdrawn as part of the annual allocation will be reinvested in the MEFF.
  • during the fiscal year, upon recommendation of the Investment Committee, the Board may approve additional distributions up to 15% of the average value of the MEFF.
  • except under emergency conditions, as defined below, any proposal to sell more than 15% of MEFF assets and spend the proceeds must be approved by League membership at Council or Convention.

Emergency conditions: Two-thirds of the Board members present at an official meeting may vote to lift spending restrictions to keep LWVMD solvent.

Contributors: Donors to the MEFF will be informed of the Board’s policy on the website and in writing when their gift is formally acknowledged.

Appendix C
Nancy Soreng Young Professional Advancement Fund

Purpose: Created in 2018, the Nancy Soreng Young Professional Advancement Fund (YPAF) aims to introduce younger generations to the League’s tradition of nonpartisan voter education and issue-based advocacy by providing stipends and training for interns and young professional volunteers.

Duration: Determined by the Board.

Primary sources: Individual donations and grants; possible bequests.

Use of funds: YPAF funds may be used to pay stipends, as well as to reimburse travel or parking costs, registration fees, League membership dues and other work-related expenses incurred by interns or young professional volunteers during their service term with the state League. YPAF funds may also finance staff time providing training and supervision, related office expenses, publicity for recruiting and other costs as authorized by the LWVMD Board.

Appendix D
Lois Stoner Scholarship Fund

Purpose: Created in 2012, the Lois Stoner Scholarship Fund (LSSF) provides financial assistance to allow League members to participate in a LWVMD courses or workshops without charge, when paying the registration fee might otherwise prohibit their participation. To qualify for an LSSF scholarship, a League member must submit an application affirming that the registration fee represents a financial hardship; a member’s eligibility is restricted to one workshop or course per year.

Duration: Determined by the Board.

Primary sources: Individual donations and grants.

Use of funds: The State Director notifies the Treasurer of approved scholarships. The amount of the registration fee is withdrawn from the LSSF and credited to the LWVMD workshop or course.

Appendix E
Ralph Watkins Voters' Guide Fund

Purpose: The Ralph Watkins Voters’ Guide Fund (RWVGF) is dedicated to promotion, production, distribution and education efforts directly related to achieving the widest use of VOTE411 and Voters’ Guides.

Duration: Determined by the Board.

Primary sources: Individual donations and grants.

Use of funds: RWVG funds may be used to support eligible expenditures, including staff time, in accordance with the annual budget or by action of the LWVMD Board. The RWVGF may be fully depleted to further LWVMD’s ongoing campaign to educate voters or be held for the next election cycle.