Charity trustees need a framework to arrive at a spending or withdrawals policy for their endowment. While a single paper cannot provide all the answers on this topic, we hope that our analysis proves useful in guiding trustees through their thought process.
We believe that a robust reserves and withdrawal policy is an essential tool for communicating with charity stakeholders, such as donors, and that it should be reviewed regularly in light of changing economic conditions.
We have worked with a number of our charity clients to help ensure that trustees have the critical information they need to navigate difficult financial decisions, in particular in relation to their long-term withdrawal rate.
In this paper, we seek to guide trustees as to how they might think about some of the factors in their decision-making, including whether a total-return approach could be suitable.
We have worked with a number of our charity clients to help ensure that trustees have the critical information they need to navigate difficult financial decisions, in particular in relation to their long-term withdrawal rate.
In this paper, we seek to guide trustees as to how they might think about some of the factors in their decision-making, including whether a total-return approach could be suitable.
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