1. Board of Trustees Annual Meeting with SWE July 31, 2009

2. FY10 Board of Trustees Marge Inden, Chair, Baltimore-Washington Angela Nickels, Treasurer, Southwest Texas Kathryn Cunningham, Secretary, Chicago Regional Carolyn Phillips, Immediate Past Chair, Houston Area Jeff Brody, Mid-Hudson Michele Fitzpatrick, New England Shoreline

3. A G E N D A 1.FY10 BoT Focus Items 2.Review: SWE-Endowment Fund, Inc. (SWE-EFI) Overview of EFI Performance Scholarship stipends 3.Review: Contingency Reserve Fund

4. FY10 Focus Items Investment management process Manager selection Asset allocation Expansion of asset classes to consider Re-examine Trustee workload

5. SWE Endowment Fund, Inc SWE-EFI Headquarters Fund Scholarship Fund Awards Fund

6. Endowment Basics Endowment: Long-term assets held to generate a permanent stream of income May include restricted and unrestricted funds Investment Policy Statement: guides long-term operation of the endowment Balance between risk and return Balance between current income and growth

7. SWE-EFI Investment & Spending Policy Funds pay 4% of the opening balance as subsidy Expenses are not included in the 4% Over the long term, we anticipate growing income Income can drop if markets perform poorly Total return: (Payout %) + (Expense %) + (Inflation %)

8. SWE-EFI Funds and Purpose HQ Fund: general support of HQ operation Awards Fund: Chipp, Resnik, Motorola, Boeing, other Scholarship Fund: National and local selection, some donor restricted funds

9. FY04*FY05*FY06FY07FY08FY09** AWARDS 374397407449439369 HEADQUARTERS 142116361637186416301388 SCHOLARSHIP 251530983538383237313385 TOTAL 431051315282614558005142 SWE-EFI Fund Balances Year end, in $K *Pre-SWE-EFI **unaudited

10. FY04*FY05*FY06FY07FY08FY09FY10 TOTAL STIPENDS77.8110115122135149154 SECTION/REGION STIPENDS3.55.5 121115 Scholarship Stipends New Scholarships established during FY09: Rocky Mountain Section Pioneers (#3) Rocky Mountain Section recovered funds Region H (#2) Region F Betty Lou Bailey Scholarship

11. Investment Performance

12. Contingency Reserve Fund

13. BOT manages assets at the pleasure of the Senate Recent BOD feedback has been to grow the fund Currently less equity exposure than SWE-EFI accounts Plans for withdrawal? Outlook for FY11?

14. Contingency Reserve Fund *budget **assuming 8% return and $625K withdrawal ***without CRF transfer FUND BALANCE ($K)226027773301328130682638** OPERATING EXPENSE ($K)27393514366342824592*3861*** RATIO83%79%90%77%67%68%

15. Investment Performance

16. Questions?