American Indian Graduate Center Scholars

“The organization has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding for initiatives supported by its endowments while seeking to maintain the purchasing power of the endowments. In determining the prudent amount to distribute in a given year, the organization considers the donor's intent, the purpose of the fund as stated in the fund agreement, and relevant economic factors. The organization's current spending policy with regards to its endowments is determined annually by the board of directors. The investment policies establish a return objective through diversification of asset classes. The current long-term return objective is the rate of inflation plus spending, net of any investment fees. To satisfy its long-term rate of return objectives, the organization relies on a total return strategy in which investment returns may be achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The organization targets a diversified asset allocation that places a greater emphasis on equity-based investments to achieve its long-term return objectives within prudent risk parameters. The organization's endowment funds consist entirely of donor-restricted funds. As required by accounting principles generally accepted in the united states of america, net assets associated with endowment funds are classified and reported based on the existence or absence of donor-imposed restrictions.”

“The organization is exempt from income taxes under internal revenue code section 501(c)(3). The organization has adopted accounting principles generally accepted in the united states of america as they relate to uncertain tax positions. Any interest and penalties recognized associated with a tax position are classified as current in the organization's combined financial statements. Currently, the 2014, 2015, and 2016 tax years are open and subject to examination by the internal revenue service and new mexico taxation and revenue department. However, the organization is not currently under audit nor been contacted by any of these jurisdictions. Management believes that they are operating within their tax-exempt purpose. Therefore, no provision for the effects of uncertain tax positions has been recorded for the years ended june 30, 2017 and 2016, respectively.”