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ENDOWMENT
Creating a Personal Legacy of Giving
What is endowment? When you create a charitable fund through your
community
foundation, you have the opportunity to benefit the community forever with a
permanent
endowment. Your gift is invested over time. Earnings from your fund are used to
make
grants addressing community needs. Your gift — and all future earnings from your
gift —
is a permanent source of community capital, helping do good work today and in
the future.
Legacy and stability. Donors who endow their gifts can make a difference
in their
community during their lifetime and, at the same time, provide a gift that lasts
forever.
Grants will continue to be made in the name of the fund you establish so that
your
charitable wishes are preserved, even if an organization receiving grants ceases
to exist in
the future.
Leaders of a nonprofit organization may also look to the community
foundation to hold
their organization’s endowment because they know that having a constant, source
of
funding helps them respond to emergency needs as well as plan for the future and
sustain
the good work they do.
Expert help. When donors or non-profit organizations work through the
community
foundation to achieve their charitable goals, they benefit from the expertise of
experienced
local program staff, community leadership, and investment management.
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The Power of
Endowment
A half century ago, Paul
Cesarz made a choice that continues to benefit his community today. He created an
endowed fund in 1952 with $150,000 in assets. The fund
immediately began earning income and distributing grants to causes important to
him. Fifty years later and 35 years after Paul’s death,
the Cesarz Fund had grown to $1,066,003. And in that 50th year, it generated
more than $50,000 in grants, supporting a range of community needs — a
park renovation, cancer research, a museum
exhibit, and more. Because Paul chose to
endow his gift, he has enabled more than $1.1 million in grants to go to his
community — almost eight times the impact he would have made by giving the
original gift to
charity all at once. And though Paul has passed away, the fund in his name will
go on supporting his community, leaving a lasting legacy.
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