An endowment trust fund is a permanent, self-sustaining source of funding. Endowment assets are invested. Each year, a portion of the value of the fund is paid out to support the fund’s purpose, and any earnings in excess of this distribution are used to build the fund’s market value. In this way, an endowment fund can grow and provide support for its designated purpose in perpetuity. When you establish an endowment fund, you create a permanent legacy of support for John Paul II Catholic School.
Endowment trust funds can be designated and utilized for the following:
- Scholarships
- Paying operating expenses of the program
- Acquiring or leasing personal property need for the program
- Acquiring, leasing, renovating or constructing real property and improvements needed for the program
- Employing or contracting with any personnel needed for the implementation of the program
- Engaging in any and all lawful activities necessary or incident to the purposes, except as limited in any approved gift instrument
An endowment is an agreement between the donor and the school permanently defines the purpose of the fund. The agreement also outlines the school standard procedures for managing endowment funds.
You can name an endowment for yourself, your family, your friend, your favorite professor, your company – the choice is yours. Your endowment will be recorded as “The [Name of Your Choice] Endowment Fund.”
In order to establish an endowment trust fund an individual must make a gift of $10,000 or higher. The endowment trust fund can receive revenues from any source, including but not limited to contributions, donations, bequests and devises from wills with the approval of the School principal.
You can make a gift of any size to an existing endowment fund without signing an endowment agreement. There may be an existing endowment that reflects your interests and to which you can add your support. Also, many donors who have established endowment funds in the past continue making gifts to them over time. The larger a fund is, the more it can do each year.