Current MN SCI Scholarships

Safari Club International Scholarship for Don McMillan

For the period from July 1, 2021 - June 30, 2022

2022-2023
Scholarship Recipient
Jami Fiorito

Financial Summary
Market Value as of June 30, 2021
New Gifts and pledges paid in FY22
Scholarship support
Market Value as of June 30, 2022

$139,784.81
$0.00
$4,500.00
$120,531.30

Endowment Performance
As dictated by Mitchell Hamline School of Law’s Investment Policy Statement, in any given fiscal year the school can draw down up to 5% of the value of the Endowment fund’s three-year trailing average for the purpose of funding current period fiscal operations, and in accordance with specific donor restrictions. The exact targeted amount is set in the annual budgeting process, and is typically set at a level needed to balance current year’s operating needs with the desire to maintain and grow our Endowment to meet the school’s future fiscal needs. The above report reflects three years of fund performance ending December 31, 2021.
*$846,904 of accumulated investment return from donor restricted endowments was appropriated and spent in FY22. 85% was spent in support of scholarships. The remaining supported academic programs and faculty support.

Endowment Management
Mitchell Hamline School of Law’s Board of Trustees with the Chief Financial Officer oversees and manages the endowment resources that you have entrusted to us. Endowed funds are actively managed and invested in a diversified portfolio as part of the school’s overall endowment. The school uses endowment income and appreciation to fund the annual spend rate of your endowed fund. Stability of endowment support and preservation of purchasing power against inflationary pressures shall be achieved by limiting spending to a specified percentage of the endowment’s market value (currently 5 percent), calculated in accordance with the School’s Spending Policy. The Spending Policy is determined by the Board of Trustees and may change from time to time. All unspent allocations are reinvested in the endowed fund to ensure that the value of your fund will continue to provide meaningful support in the future.

If you have any questions about this endowment or wish to add to the fund, please contact Allison Burke, Donor Relations, at 651-695-7608 or e-mail allison.burke@mitchellhamline.edu.