Mission
THE CLUB'S ENDOWMENT CONSISTS OF ONE INDIVIDUAL FUND, THE ENDOWMENT TRUST, ESTABLISHED EXCLUSIVELY TO BENEFIT THE CLUB TO PROVIDE FOR A PORTION OF THE CLUB'S OPERATING REQUIREMENTS EACH YEAR, INCLUDING SALARY INCREASES, AS WELL AS A SOURCE OF CAPITAL FOR IMPROVEMENTS TO EXISTING FACILITIES, IMPLEMENTATION OF NEW PROGRAMS, AND FOR THE ACQUISITION OF ADDITIONAL FACILITIES. THE ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF GOVERNORS TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY U.S. GAAP, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF GOVERNORS TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS.