 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
 |
|
||||||||||||||
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
|
 |
 |
 |
 |
 |
 |
 |
|
|||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |||
|
Named Endowment FundsAn endowed gift is one of the best ways to support the future of the medical campus because its giving potential is endless. The principal of an endowed gift is never invaded; rather the income paid out of the fund is used to support the benefiting area on an annual basis. There is no limit on gifts to existing endowments within the MCV Foundation; however, a minimum gift of $10,000 is required to establish a new endowment fund. Donors may create an endowment fund in a number of ways, from an outright gift to a life income gift. Below you will find some frequently asked questions about endowments at the MCV Foundation. Please contact us at 804.828.9734 or email Chris Gove or Sharon Larkins-Pederson if you should need further assistance.
Frequently Asked Questions about Endowments:The MCV Foundation endowment is an aggregation of individual funds supporting programs throughout the Medical College of Virginia Campus of Virginia Commonwealth University. The funds are held in perpetuity and invested for long-term growth. A portion of each year’s earnings is provided for the intended purpose of the fund, while the remainder is reinvested. Endowments serve the institution in several ways by: How Does the MCV Foundation Manage its Endowment? MCV Foundation, like most institutionally related foundations, has an endowment management policy that seeks to balance present needs with the desire to meet the future’s rising costs. This is achieved by reinvesting some of today’s earnings so that a larger principal will be available each year to generate more income. The combination of growing fund balances and growing earnings provides an outcome that will stand the test of time. Our team of experienced investment advisers develops and monitors our investment strategy.
How Can I Create an Endowment? MCV Foundation works with the donor and his or her advisers to establish endowment funds that will be meaningful to both the donor and the benefiting program. Sometimes the Foundation staff works directly with the donor, sometimes in partnership with another MCV campus development officer or administrator. Endowment agreements are crafted and signed to outline the proper name, purpose, and selection procedures and to serve as a guide for future administrators. Bequest language is developed for programs to be funded from estates in the future.
• Student support in the form of scholarships, fellowships or student
awards.
How is the Endowment Name Selected? Endowment funds held at the MCV Foundation carry the names of some of the institution’s great leaders as well as the names of donors and family loved ones. Generally, the naming privilege is provided to the donor. A named endowment fund is a wonderful way to immortalize that special relationship between a donor or a loved one and our institution.
What Dollar Amount is Required to Establish an Endowment? A permanently named fund may be established with a gift of $10,000. By policy this produces an award of $500 with additional earnings reinvested. Gifts may be added at any time in the future, which along with the reinvestment of a portion of the earnings produces larger annual awards.
|
||
