AAN Endowment Fund Investment Practices

The Fund will be held and administered by AANF as a part of its endowment funds. The Fund shall not be wholly expendable by AANF on a current basis but shall be invested according to policies established by AANF's Board of Trustees. The investments may be made independently of, or in common with, other funds of similar character provided the individual identity of the Fund is preserved at all times.

Distribution and Expenses. The Fund is a permanent endowment fund existing into perpetuity and will be administered in accordance with the Minnesota Uniform Management of Institutional Funds Act as amended. The Fund disbursement shall be in accordance with the policies and procedures for endowed account disbursement determined by AANF's Board of Trustees. AANF will administer the Fund in a manner intended to maintain the stability of endowment support for the purpose of the Fund. Any investment returns remaining after distributions for the purpose of the Fund and payment of investment management, administrative, and other costs, shall be retained as part of the principal of the Fund.

Amendment. The Fund shall at all times be subject to the authority of the AANF Board of Trustees to eliminate or modify any restriction, condition or limitation imposed with respect to the Fund if, in the judgment of the AANF Board of Trustees, such restriction, condition or limitation becomes unnecessary, incapable of fulfillment, or inconsistent with the charitable needs served by AANF. In such event, AANF shall redirect revenues to program(s) activities which most closely parallel the Sleep Medicine Young Investigators Endowed Award Fund's original purpose.

For a copy of the endowed fund agreement, please contact Susan Dunlop at sdunlop@aan.com, or call 651-695-2701.