There are basically two kinds of funds held at WCA Foundation – endowed funds and non-endowed or pass-through funds. Endowed funds are held in perpetuity – forever. The original gifts are prudently invested and 5.25% of the trailing twenty quarter average market value of each Long-Term Fund’s portfolio at year end is used for grants to UPMC Chautauqua and operations of the WCA Foundation annually. Non-Endowed or Pass-Through funds are given by donors to be used for more immediate needs – either general or specific – of UPMC Chautauqua. They are fully expended for the use designated and not held for generational growth...