What is an Endowment?
Endowments are permanent funds where the gift is required to be invested and the principal is never spent. The income (earned interest or dividends) is then used to support the work of the organization. Generally, only a predetermined percentage of the earnings are allowed to be spent each year with the remainder being reinvested along with the principal. Endowments represent the past, present, and future by creating a legacy, providing for today’s needs, and preparing for generations to come.
Why it’s important?
- Endowments are forever – they extend the impact of the gift to future generations of students, ensuring that they will be able to explore the worlds of science at EIS for years to come.
- They provide a perennial source of income for the organization through the interest they generate.
- Endowments build long-term capacity and provide a separate income stream that helps to moderate fluctuations in other revenue sources.
- Endowments are personal and can be somewhat tailored to a donor’s needs or desires, creating their own legacy. (This is not shown as a separate bullet point, please make this its own point and not combined with number three)
Beloved supporters Dr. Joe and Vi Jacobs pledged $500,000 as a community challenge-matching $1 for every $2 received for the EIS Endowment. In order to help our Endowment grow, EIS is also allocating 10% of every individual gift it receives to the Endowment Fund unless otherwise requested by our donors. Anyone can give to these Endowment Funds and there are no minimum amounts for contributions. We also welcome the opportunity to help you set up your own fund at EIS. For more information, please contact Development Director, Charlene Browne.