Douglass Fund Trust Management

Although the AADC may no longer solicit contributions for the Douglass Fund Trust or for DRC, the mission of the Trust itself remains essentially the same today as when it was established by the AADC in 1969, with some modifications. The purpose of the Trust is to hold and administer assets that will be used to provide financial support to Douglass Residential College and her students.

The Trustees of the Douglass Fund Trust are the AADC President, Executive Director and another Board member approved by the AADC Board. They have the responsibility to invest and manage the assets of the Trust and to oversee its day-to-day administration. The AADC provides investment and administrative support as deemed necessary by the Douglass Fund Trustees under the Declaration of Trust.

The amount of money provided to DRC from the Douglass Fund Trust is determined by two factors: a percentage called the “spending rate” and the average value of the endowed funds over a period of time, which depends on the investment performance of the asset’s underlying funds. The spending rate for the Douglass Fund cannot be less than the rate used by Rutgers for its endowed funds; it is currently 4%. The average value of the endowed funds is calculated over 13 quarters.

A six-member Douglass Fund Committee consists of the AADC President and her appointee, the Dean of the College and her appointee, and one jointly-appointed member as well as the AADC Executive Director (ex-officio, non-voting). This Committee is responsible for directing distributions from the Trust and monitoring how the funds have been allocated and used by DRC. The Dean continues her traditional role in determining how the money is to be spent each year, consistent with donors’ intent and College priorities.

The AADC retains responsibility for the prudent stewardship of the Douglass Fund Trust held by the AADC through investment and administrative support as deemed necessary by the Douglass Fund Trustees under the Declaration of Trust.