From initial funds and bequests in 1986 of approximately $500,00 in our endowments, we are now managing funds of approximately $2.5M and are projected to provide in 2025 alone, more than $200,000 to Angeles Chapter Sierra Club programs, including ICO.

Details about Angeles Chapter Foundation ICO Endowment
The terms of the Angeles ICO Endowment are incorporated in the Angeles Chapter Foundation bylaws and are as follows:

1. The Angeles Chapter Foundation hereby creates a separate endowment fund entitled the Angeles Chapter Foundation ICO Endowment, also to be known as the Angeles Chapter Foundation Inspiring Connections Outdoors Endowment and Angeles Chapter Foundation Inner City Outings Endowment, to be managed at the direction of the Board of Directors of the Angeles Chapter Foundation.
2. All donations, gifts or bequests that are made to the Angeles Chapter Foundation ICO Endowment shall be deposited in the separate endowment fund entitled the Angeles Chapter Foundation ICO Endowment.
3. As used herein, the word “gift” shall include any life insurance policy or policies or other instrument of which the Angeles Chapter Foundation ICO Endowment is made the owner, and the proceeds of any life insurance policy or policies or other instruments naming the Angeles Chapter Foundation ICO Endowment as the beneficiary.
4. Said donations, gifts and bequests shall constitute the principal of the Angeles Chapter Foundation ICO Endowment and shall be held, accumulated for investment, in trust, separate and apart from any other funds and other property controlled by the Angeles Chapter Foundation.
5. Funds contained in the Angeles Chapter Foundation ICO Endowment shall be used or expended only in the manner specified in this resolution.
6. The principal assets of the endowment shall be accumulated for investment in such a manner that the inflation-adjusted value of the principal shall be maintained over the long term.
7. All expenses incidental to the management, maintenance and operation and administration of the Angeles Chapter Foundation ICO Endowment, including, but not limited to taxes, brokerage commissions, investment counseling, insurance, interest, accounting fees, shall be paid from the Angeles Chapter Foundation ICO Endowment.
8. Expenses incurred in connection with investing, reinvesting, exchanging, purchasing, acquiring, selling and managing assets and income of the Angeles Chapter Foundation ICO Endowment shall be paid from the Angeles Chapter Foundation ICO Endowment.
9. The Angeles Chapter Foundation will upon request provide financial and other information regarding the Angeles Chapter Foundation ICO Endowment, that is requested by any of the following officers of the Angeles Chapter ICO Committee: the Chair, the Vice Chair, the Treasurer.
10. Annually at the first Board meeting after January 1, or first board meeting practical thereafter, after accounting for the expenses for the preceding year described in paragraphs 7 and 8 above, and after such expenses are deducted from the income earned during the previous year by the Angeles Chapter Foundation ICO Endowment, the balance of the income shall be used to pay for charitable, operational, and education expenses of the Angeles Chapter ICO Committee which the Angeles Chapter Foundation Board deems reasonable, or at the discretion of the Board to fund such expenses in advance.
11. If in any fiscal year, the income from the Angeles Chapter Foundation ICO Endowment exceeds the expenses of the Angeles Chapter ICO Committee and if the balance of the Angeles Chapter ICO Committee’s available cash and bank deposits exceeds anticipated charitable, operational and educational expenses during the next 24 months, then the endowment income that year shall be added to the principal of the endowment until such endowment principal reaches the total of $1,000,000.00 or 25 times the average expenses of the Angeles Chapter ICO Committee for the previous 5 years, whichever is larger.
12. If and when total of the principal in the endowment exceeds the amount specified in Section 11 above, and if all the conditions mentioned in the preceding paragraph are met, then at the discretion of the Angeles Chapter Foundation Board the excess may be used a) to add to the principal of the Angeles Chapter Foundation ICO Endowment, or to fund advance expenses of the Angeles Chapter ICO Committee, or b) if mutually agreed, by the Board of the Angeles Chapter Foundation and two of the three officers mentioned in paragraph 9 of the Angeles Chapter ICO Committee, to provide funds to support ICO projects of a similar nature in California or throughout the nation of a type consistent with the general or specific objectives of the Angeles Chapter ICO Committee, or for other mutually agreed purpose.
13. If in the future the Angeles Chapter ICO Committee, under its current or a successor name, ceases to exist, then the income of the Angeles Chapter Foundation ICO Endowment shall be used to provide funds to support ICO projects of a similar nature in California or throughout the nation of a type consistent with the general or specific objectives of the Angeles Chapter ICO Committee, or if the Board of the Foundation determines at it sole discretion that this is not possible or practical, for such other purpose as chosen by the Board of the Angeles Chapter Foundation.
14. If in the future the Angeles Chapter Foundation, under its current or a successor name, ceases to exist, the principal of the endowment shall be turned over to Sierra Club Foundation or California Community Foundation or another appropriate Foundation, to administer so that the income is used as specified by the terms of the endowment.
15. Nothing in this resolution shall be construed to require the Angeles Chapter Foundation to accept any donations, gifts and bequests including bequests to the Angeles Chapter Foundation ICO Endowment, whose purposes, terms or conditions which are deemed by the Foundation Board at its sole discretion to be inconsistent with the best interests of the Angeles Chapter Foundation, the Sierra Club or its Angeles Chapter, and the Board of the Angeles Chapter Foundation shall have the right to reject any such gifts, in its sole discretion.