Endowment Funds are established to benefit a particular institution or agency, to provide ongoing support to a favorite charity, award scholarships in the name of a loved one, or otherwise support a cause in the name of a person or other entity.
Endowment Funds are typically established by a bequest or a gift and are additionally supported by annual contributions and the earnings on those contributions. Most Endowment Funds are permanent with the requirement that the principal is never spent. The balance in the Endowment Fund is invested in a pool with long-term assets and oversight is provided by an Investment Committee.
Donors can establish a Named Fund in their name, in a family’s name, or in the name of any person or organization they wish to honor. Grants distributed from a donor’s fund are awarded in the name of their fund. This person or organization will always be remembered and linked to good works in our community.
At Scranton Area Foundation we manage a variety of different types of Named Endowment Funds that provide a multitude of Scholarships and benefit an array of organizations and other causes.
Please contact the foundation for a current list of existing Named Funds
This type of fund is established when a non-profit organization agrees to transfer all, or part, of its endowment to a designated fund within The Foundation and, in turn, it receives quarterly or annual distributions of income from the fund.
Organizational endowments can also be established by individual donors. This partnership can bring investment economies of scale, expertise and reduced fund management costs to other non-profit organizations.
We can work together to attract additional gifts to their endowment fund. We can protect an organization’s hard-earned endowment and insure it is always available to support its charitable mission.