The Banff Centre Foundation

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Mandate

The Banff Centre Foundation’s mandate is to manage the investment of Banff Centre’s endowed funds in an accountable, transparent and fiscally prudent way. We are guided by the Golden Rule of Endowment Management, which states that endowment spending should be equal to or less than the total return minus inflation, and that the preservation of the real value of endowment capital is a primary endowment fund management policy.

Relationship to The Banff Centre Board of Governors

The Board of Governors of The Banff Centre has the ultimate responsibility for the funds and has delegated responsibility for the overall management of the funds to the Board of Directors, The Banff Centre Foundation.

How are funds distributed?

The annual cash distribution to be released to Banff Centre will be determined in the course of Banff Centre’s annual budget development cycle and will not normally be re-determined during the fiscal year. Such cash distribution will take into account Banff Centre’s needs, the performance of the funds, the Golden Rule of Endowment Management, and the minimum disbursement quota as defined in the Income Tax Act.

Banff Centre Foundation financial statements are published yearly.