Alcor is pleased to announce the creation of the Alcor Endowment Trust Supporting Organization. The Alcor Endowment is a Type II supporting organization intended to support the Alcor Life Extension Foundation. It will provide that support by prudently investing funds above and beyond what makes sense to allocate for general operations and research, and by providing a stable payment stream to Alcor to assist in the running of the organization.
The Alcor Endowment serves several purposes. It provides a structure for strategically investing Alcor’s funds in a way that will put the organization in an ever stronger position as time passes. It guards over $5 million of assets to benefit Alcor, a figure that is expected to grow over time, in a separate organization, making it more secure from lawsuits. It ensures a smooth disbursement of funds to Alcor in a way that both protects against market fluctuations and against future boards/management spending down Alcor’s assets for short-term needs.
The Alcor Endowment makes annual distributions to Alcor which will average very nearly 2% over the long-term. To buffer Alcor from large market fluctuations, increases or decreases in the annual distributions to Alcor can generally vary by no more than 10% either up or down from the previous year’s distribution. The exact distribution algorithm is legally binding on the Endowment pursuant to the Endowment legal documents. Having a set distribution policy also checks against spending down of the endowment by future boards.
Unlike the Patient Care Trust, or its new successor, the Alcor Care Trust, the Endowment’s investment strategy is geared more towards maximizing long-term returns and less towards minimizing year-to-year fluctuations. This is because the Endowment is not focused on paying the patient care expenses.
The Alcor Endowment Board consists of five members. At least three of these members must also be on the Board of Directors of Alcor proper. The current composition of the Endowment is:
Ralph Merkle (Alcor Director)
Mike O’Neal (Alcor Director)
Andy Aymeloglu (Alcor Director)
Donations can be made to the Alcor Endowment directly as an alternative to donating to Alcor. Alcor may also choose to transfer funds into the Endowment at its discretion. As of May 12, 2018, the Endowment had $5,980,706.73 under management. The full text of the operating agreement detailing the distribution policy, board composition, and other details can be found here.