In the past, there were ACAA Chapters which had excess funds and these funds were not always in proper accounting format. The Endowment Fund Committee created this concept to allow these Chapters to deposit within the ACAA Endowment Fund separate portfolio accounts for the benefit of the local. Of additional intent of THE PARKED FUNDS concept is to allow for income from interest and dividends to be transferred to the office as payment towards quota in order to help cash flow and easy the payment of Quotas. Not only would this process help the cash flow of the office but it would assist the payment of dues by the Gomideh. This allows the creation of a legal entity within the local body to preserve its funds in a non-tax status until future capital improvements, building purchase or other project could be initiated for the benefit of the Local Chapters. Joint management of the stock portfolio with the Trustees is encouraged if the local entity wishes participation. These funds are not restrictive and could be withdrawn whenever the local entity has decided to join this program, then the Endowment Fund, ACAA Office proceed to the creation of a Trust Agreement of this intended use. This is the concept of this PARKED FUNDS which allows for proper fillings of Federal tax returns, state documentation or other aspects of these funds being properly handled or disclosed to the ACAA Administrative body as a building or other hard asset. Once designated, its withdrawal use must be structured to conversion of real asset or viable expenditures. Transfer must be to a like entity, such as a local 501(c)(3) corporation or direct and legal use by the Local ACAA Chapter
