$86K in expenses

The bsa endowment master trust was created to allow local bsa councils to, when necessary, keep their endowment in a trust, which has a corporate trustee, and invest exclusively in the bsa commingled endowment fund, LP. Bsa asset management, LLC is the settlor of the trust and global trust company is the trustee. Boy scouts of america is the sole member of bsa asset management, LLC. The bsa endowment master trust is exempt from tax under section 501(c)(3) of the internal revenue code. The IRS issued a favorable determination letter on april 24, 2012 with an effective date of october 28, 2010 (the date of first deposit of assets into the trust).