This time of year there seems to be a holiday of sorts almost every week. We've already celebrated Groundhog's Day and enjoyed Super Bowl Sunday. We have Valentine's Day and President's Day just around the corner. Baseball fans are celebrating the opening of spring training. And Mardi Gras is in a couple of weeks. 

But we know what you really anticipate with excitement this time of year is Spendable Income Day! Like kids at Christmas wanting to know when Santa Claus is coming the questions have started pouring in - when will we get our spendable income numbers for fiscal year 2015? The spendable income rate for next fiscal year will be set by our Board of Directors on February 21st and our goal is to have the calculations to you by the first week of March. 

In celebration of Spendable Income Day we are having another contest! Answer the questions below about Spendable Income and submit your answers to our Support box by February 28th, 2014. Entries with all correct answers will be entered in a drawing for a logoed USMF swag item.

1. A new endowment was established in July 2013. Will this endowment receive any spendable income for fiscal year 2015?
2. Spendable income is calculated by multiplying the board approved spendable income rate by the market value at a certain date. For fiscal year 2015 what market value date will be used for the calculation?
3. What document can specify exceptions to our normal spending policy for a particular endowment? Hint - this document also designates the purpose of the endowment.
4. What is the term used to describe an endowment where the market value is less than the historic gift value?
5. An endowment need to have a minimum market value before it is eligible to use spendable income - yes or no?
6. What USM Foundation tool can be used to track your endowments, your available spendable income, what you've spent or encumbered against your spendable income, and your spendable income for the next fiscal year?

Good luck and enjoy all of the holidays!