What is an Endowment?
The FASB classifies endowments into three categories: true endowments, terms endowments, and quasi-endowments.
True endowments are established by donor-restricted contributions and are maintained to provide a permanent source of income, with the stipulation that the principal must be invested and kept intact in perpetuity, while only the income generated can be used by the Foundation.
Donors may designate contributions to an established endowed fund [hyper link to donation page] or establish their endowment through the Foundation [hyper link to Establish an Endowment]
Purpose and Goals
Empowering Educators and Education
Strengthening the teaching profession by equipping educators with tools, resources, and support systems that enhance their ability to inspire and educate.
Personal and Professional Support
Providing financial assistance, mentorship, and well-being initiatives to ensure educators thrive both inside and outside the classroom.
Professional Pathways and Development
Creating pathways for career advancement through leadership training, continued education, and innovative professional learning experiences.
Establish an Endowment
1
Request and complete the Endowed Scholarship Fund Agreement
2
Upon approval of the Endowed Scholarship Fund Agreement, you may initiate the endowed fund by contributing the minimum initial investment. Contributions will draw interest during this period.
3
Conduct a capital campaign or make additional contributions to reach the minimum to capitalize the endowed scholarship fund. Capitalized endowed funds are invested and awards are made based on a rolling average of interest and dividends.
Endowment Committee
The Endowment Committee, chaired by the Chair, shall be appointed by the Chair of the Board with the approval of the Trustees. At least one other member of the Board shall serve on the committee appointed to create a committee with an odd number of members. The Endowment
Committee shall oversee the administration of all Endowment Funds and maintain a written record of their actions, which shall be available for examination upon the request of any Trustee. The committee shall make a detailed report of their activities at the Annual Face-to-Face or Strategy Meeting of the Board.