Nantucket Conservation Foundation Inc.

“The foundation's endowment consists of individual donor-restricted funds established for a variety of purposes as well as funds designated by the board of trustees to function as endowments. As required by generally accepted accounting principles, net assets associated with endowment funds are classified and reported based on the existence or absence of donor-imposed or legal restrictions. As required by generally accepted accounting principles, the foundation classifies as non-expendable donor-restricted net assets (a) the original value of gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund. The remaining portion of the donor-restricted endowment fund that is not classified as non-expendable net assets is classified as expendable net assets until those amounts are appropriated for expenditure by the foundation in a manner consistent with the standard of prudence prescribed by state law. The foundation manages its endowment consistent with the uniform prudent management of institutional funds act ("upmifa"). In accordance with upmifa, the foundation may consider the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds: the duration and preservation of the fund; the purposes of the foundation and the donor-restricted endowment fund; general economic conditions; the possible effect of inflation and deflation; the expected total return from income and the appreciation of investments; other resources of the foundation; and the investment policies of the foundation. Return objectives and risk parameter the foundation has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets. Endowment assets include those assets of donor restricted funds that the foundation must hold in perpetuity or for a donor specified period as well as board designated funds. Under this policy, as approved by the board of trustees, the endowment assets are invested in a manner that is intended to produce a 4.5% real return on invested capital while assuming a conservative level of investment risk. Actual returns in any given year may vary from this amount. Strategies employed for achieving objects to satisfy its long- term rate-of-return objectives, the foundation relies on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The foundation targets a diversified asset allocation that places a greater emphasis on equity-based investments to achieve its long-term return objectives within prudent risk constraints. Strategies employed for achieving objects to satisfy its long- term rate-of-return objectives, the foundation relies on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The foundation targets a diversified asset allocation that places a greater emphasis on equity-based investments to achieve its long-term return objectives within prudent risk constraints. Spending policy and how the investment objectives relate to spending policy the foundation has a policy of appropriating for spending each year 4.5% of its endowment funds' average fair value over the most recent prior 12 calendar quarters preceding the fiscal year in which the draw is planned. Any expenditures from the endowment assets must be supported by the finance and investment committees and be consistent with the intent of the relevant donor for that fund. This is consistent with the foundation's objective”

“Special event expenses 29,542.”

“Special event expenses 29,542.”