For the first time, the Idaho Department of Lands and the Endowment Fund Investment Board will together generate more than $100 million for the state’s endowment beneficiaries.
This week, the State Board of Land Commissioners approved an increase in Fiscal Year 2023 distributions to the eight endowment beneficiaries which include Idaho public schools, the University of Idaho, and state veterans’ homes. The beneficiary distributions reduce the burden on taxpayers to fund those institutions while generating jobs within the timber industry and providing grazing and commercial leasing opportunities for ranchers.
Idaho’s public school system, which is the largest beneficiary, will receive $61.5 million in Fiscal Year 2023 which is 12.3 percent more than the Fiscal Year 2022 distribution of $54.7 million. (Idaho Department of Lands)
