Power of endowment
An endowment is a permanent fund. Your gift is invested and a portion of the earnings are distributed to better the lives of residents of San Luis Obispo County. 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.
Endowments are timeless, they are managed so that they last forever. They are designed to last longer than we can comprehend. Here is an example. In 1643, Lady Ann Mowlson gave Harvard College one hundred pounds to create what we call today an endowed scholarship fund. In today’s dollars, her gift was approximately $50,000. In 2009, Lady Ann Mowlson is still helping students afford a Harvard education. What do you want your money to be doing 366 years from now?
Here is how endowments work
A $25,000 gift is made to establish an endowed fund at the San Luis Obispo County Community Foundation. Over the next 20 years, the value of the original gift grows to $44,142 AND pays out $26,870 in grants during that same period. That is the power of endowment.
