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SALISBURY HISTORYThe fund will be defined and administered as follows:Upon receipt of a minimum of $10,000 from the donor, afund will be created as a part of the pooled Pike funds ofBoston University to be invested and reinvested for thehighest possible income consistent with preserving thesafety of the principal. The principal of this fund may not beinvaded.Until the book value of the principal of the fund (includingaccumulated income) reaches $200,000, all income is tobe returned to principal. Capital gains are to be consideredas principal. After the book value of the principal reaches$200,000, 50% is to be used for the benefit of the Pike Institutefor the Handicapped at Boston University. This incomedistribution arrangement will continue until the book valueof the principal of the fund reaches $400,000. Thereafter,30% of the annual income is to be returned to principal andthe remaining 70% is to be used for the benefit of the PikeInstitute. The 30%/70% arrangement will continue in perpetuity.It is the donor’s intention to bring the book value of theprincipal of the fund to the $200,000 level within the nextfour years.22