When Idaho became a state, the Congress of the United States endowed certain lands to be used to generate income for educational and other purposes. (Endow: to provide with property, income, or a source of income.)
The Endowment Fund Investment Board was established to manage investment of the proceeds generated by the endowment lands within the State of Idaho. The EFIB also manages the financial assets of the State Insurance Fund, the Bunker Hill Water Treatment Endowment for the Department of Environmental Quality, two endowments to maintain certain lands acquired for wildlife by the Department of Fish and Game, and, for the Department of Parks and Recreation, the Ritter Island Endowment Fund and the Trail of the Coeur d’Alenes Endowment Fund. The Investment Board also manages a Credit Enhancement Program for public school bonds.
The management of all assets, with the exception of those of the State Insurance Fund, is governed by the Idaho Uniform Prudent Investor Act.