A Modified Endowment Contract(MEC) is an IRS classification for certain Permanent 'Plus' policies which eliminates several tax advantaged features of a regular permanent life insurance plan. As a rule of thumb, policies issued after June 21, 1988 which are paid up in less than seven years and/or make a large lump sum payment at the beginning of the plan, will be classified as an MEC.

endowment at the SIUE Foundation preserves the principal while providing income for a program account as specified by the donor. An endowment may be established at any level above the minimum endowment level and may support any type of program account with the exception of a benefit account. The SIUE Foundation’s Investment Policy sets the percentage of earnings from the endowment accounts that may be distributed as income to the program accounts.

endowment may be created for a minimum of $15,000. Endowments may also be created to reach the minimum endowment level over a period of up to five years. Endowments may also be created at more than the minimum level.

I have a Coaching Agreement that I use for my practice. This helps my clients have a clear understanding of what my policies and procedures are. Miscellaneous

endowment to support a scholarship may be created at the minimum endowment level of $15,000, but this will only provide partial scholarship support. Currently, it takes an endowment of at least $80,000 to provide significant scholarship support.

The endowments are actively managed in compliance with our investment policy, which reflects compliance with Montana law, our view of the financial marketplace and our responsibility to protect and grow principal and to provide for annual distributions. In the simplest terms, our investment goals are: The balance of all endowment funds is invested in a pool, which is now of sufficient size that it can be managed actively.

The funds managed for all beneficiaries of the Montana Community Foundation (except those held as trusts) are assets of the Montana Community Foundation. The contract signed by the donor and the Montana Community Foundation when the endowment is created stipulates that the earnings must be paid to the beneficiaries specified by the donor.