University of Missouri

47-54: A Resolution to Create an Endowment with the STRIPES Gift Account

WHEREAS, The STRIPES Gift Account was originally created to collect donations and provide a means by which STRIPES can eventually become self-sufficient, and

WHEREAS, The STRIPES Gift Account has also been used to fund capital improvements to STRIPES when necessary, and

WHEREAS, On April 29 STRIPES Director Domingo Pacheco proposed a plan to establish an endowment with remaining Gift Account funds and income from a newly conceived Capital Campaign while maintaining a minimum balance for contingency (i.e. emergency or maintenance), and

WHEREAS, This plan ensures the long-term stability of STRIPES and uses the Gift Account in its original intent by moving STRIPES closer to self-sustainability.

THEREFORE, Be it resolved by the Missouri Students Association Senate that the STRIPES Gift Account maintain an annual floor of $15,000, consisting of $7,000 of annual STRIPES budget revenue and $8,000 of contingency funds beginning with Fiscal Year 2009, and

THEREFORE, Be it further resolved that the balance of the STRIPES Gift Account over $15,000 roll over into an endowment for the long-term sustainability of the program with the continued goal of making STRIPES self-sufficient.

Respectfully submitted,

Jonathan Mays        Domingo Pacheco        Jim Kelley
MSA Senate Speaker        STRIPES Director        MSA President

Chelsea Johnson
MSA Vice President