Endowment Market Value Report

The Endowment Market Value report provides a list of endowment accounts with dollars invested, number of units, market value of the funds, endowment status and expendable payout.

The report displays dollars invested, # units, market values, endowment status and payout account(s) all group by school or unit. Click on payout account(s) to drill down to the Project Summary report.

Report Output

Data Field	Description
Project Number	8-digit account number.
Project Title	Long description of the account.
Department	Department the account is associated with.
Established Date	Date the account was established.
Dollars Invested	Original donation plus any other additions to the fund, less, in most cases, a one-time gift assessment at the time the gift was received. For accounts that are not yet fully endowed, the dollars invested may include reinvested income distributions.
# Units	Number of units purchased.
Market Value	The total of the dollars invested plus investment earnings and appreciation, less distributions. The price per share, rounded to 5 decimal places, at which the market value is calculated is listed in the column heading, "Market Value @ xx.xxxxx."
Endowment Status	Status of the endowment account. Endowment status includes: FE - Fully Endowed NFE - Not Fully Endowed NOGA - No Gift Agreement QUASI - Quasi Endowment SUSPEND - Account Payout Suspended
Options	Accounts initiated after July 1, 2009 are managed in accordance with the latest Hawaii Revised Statutes regarding institutional funds, the Uniform Prudent Management of Institutional Funds Act (UPMIFA). In discussing the payout, the UPMIFA statute says: "In making a determination to appropriate or accumulate, the institution shall act in good faith, with the care that an ordinary prudent person in a like position would exercise under similar circumstances, and shall consider, if relevant, the following factors: the duration and preservation of the endowment fund the purpose of the institution in the endowment fund general economic conditions the possible effect of inflation or deflation other resources of the institution the investment policy of the institution” UPMIFA was designed to provide for immediate and continued ongoing uninterrupted support for the University programs. Each year, the Foundation’s Investment Committee reviews the accounts that are subject to UPMIFA, considers the relevant factors and determines the appropriate payout for these accounts. Older endowment accounts, accounts initiated prior to July 1, 2009, are managed in either one of two ways. Based on the market value of the account versus the book value of the account, the options are as follows: Option 1: the payout continues even if the market value falls below the book value. Option 2: the payout is suspended if the market value falls below the book value. If Option 2 is selected, the account is reviewed at June 30 of each fiscal year; the payout will commence in the following fiscal year if the market value exceeds the book value by 6% or more. (The 6% threshold is utilized to help avoid potential whipsaws of the market value swinging above and below the book value.)
Expendable Payout 1-4	A separate account maintained to receive quarterly payouts from the endowment as well as to record and disburse expenditures in accordance with the terms of the endowment. In addition to receiving the payout from the endowment, gifts may be made directly to the expendable account.