Endowment Disclosure Statement (last updated: 7/11/2018):
American Bible Society was incorporated in New York State in 1841. Our principal place of business is located at 101 North Independence Mall East, FL8, Philadelphia, PA 19106, and the phone number is (800) 549-3328. We are recognized as a 501 (C) (3) tax-exempt organization by the Internal Revenue Service, and contributions are deductible for federal income tax purposes. Responsibility for governing the organization is vested in a Board of Trustees comprised of persons who are elected by this Board. Common investment funds managed by our organization are exempt from registration requirements of the federal securities, laws, pursuant to the exemption for collective investment funds and similar funds maintained by charitable organization under the Philanthropy Protection Act of 1995 (P.L. 104-62). This information is provided to you in accordance with the requirements of that Act. We would be pleased to provide any additional information at your request, including a copy of our IRS form 990.
American Bible Society plans to follow the terms of the New York Prudent Investment Management of Institutional Funds Act (NYPMIFA) in making decisions as to annual allocations for expenditure from endowment fund gifts. Unless otherwise restricted in the gift instrument, American Bible Society may expend from its endowments so much as is deemed prudent after considering the factors set forth in section 553, paragraph (a), of that Act. American Bible Society's Investment Policy utilizes a Board established spend rate, currently at 5% but not more than 7%, in accordance with paragraph (d) that Act. This would may allow American Bible Society to expend amounts from its endowment funds even when market values decline below the endowment funds' historical dollar values from time to time.
American Bible Society cannot provide tax or legal advice in connection with any gift or bequest to American Bible Society. For advice or assistance in making a specific gift to American Bible Society, the services of an attorney or financial advisor should be obtained. American Bible Society cannot act as an attorney or executor nor prepare bequest documents on behalf of a potential donor. American Bible Society Endowments are governed under the laws of the State of New York.