To enable the Lynden Pioneer Museum to be present in the community for generations to come by providing the financial wherewithal to do so.
To provide long-term financial support to the Lynden Pioneer Museum through the accumulation, investment and management of funds in order to encourage the preservation and display of the cultures of our community's history.
Non-profit status: The LPM Endowment Foundation has been established as a tax-exempt corporation organized under Section 501(c)(3) of the Internal Revenue Code of 1954, or its statutory successor for the purpose of benefiting the community by providing financial support to the Lynden Heritage Foundation.
BOARD OF DIRECTORS
Richard H. Decima (Chair) Position #1 Term: 1/2018-12/2020
Gordon Plotts (V. Chair) Position #2 Term: 1/2017-12/2019
Troy Luginbill (Secretary) Position #3 Term: 1/2018-12/2020
The LPM Endowment Foundation operates according to a number of policies that address personal conflicts of interest.
State and federal laws pertaining to endowments and a desire for absolute transparency.
The Trust and Investment Committee (TIC) of the LPM Endowment Foundation (EF) is a permanent committee of the EF and is charged with the responsibility for the management of invested funds.
RESTRICTED & UNRESTRICTED ASSETS
Endowments are defined as funds "used to accumulate those assets that have been given to the museum (LPM EF) on the condition that the principal of the gift is to be kept intact and that only the investment income it produces can be used to meet the museum's (LPM EF's) needs". This definition confirms the intent of endowment funds: they are investment vehicles whose principal is never touched and will continue in perpetuity.
Accounting standards for non-profit organizations have been mandated by the Financial Accounting Standards Board (FASB). These standards require non-profit organizations to report assets and statements of activity under three funds: Unrestricted, Temporarily Restricted and Permanently Restricted.
The LPM Endowment Foundation holds all necessary liability & fiduciary insurances necessary to protect the invested assets.
PUBLIC INSPECTION OF RECORDS
LPM Endowment Foundation adheres to all sections:
RCW 42.56 public records act
RCW 24.03 nonprofit corporation act
for inspection of and copying of records.
To inspect or copy records please visit the contact us page to contact us or email us an inquiry.