Endowment funds serve the Academy in three primary areas: student financial aid, student and teacher enrichment and awards and prizes. These funds are permanently restricted for special purposes. Current Academy policy allows for the annual spending of 5 percent of the three-year rolling average of each fund.
In establishing permanent endowment funds, the Academy requires a minimum principal amount of $100,000 for financial aid funds and a minimum of $50,000 for enrichment funds. Endowed prize funds can be established at lesser amounts depending on the purpose and goal of the fund. Permanently restricted endowment funds established prior to 2004 may have lesser amounts than the new policy requirements.