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Give Smart - Why Endow?

Here at Truman Heartland, we often talk about endowments or endowed funds, but unless you are in the community foundation or financial planner industry, you may not know exactly what that means.

Here at Truman Heartland, we often talk about endowments or endowed funds, but unless you are in the community foundation or financial planner industry, you may not know exactly what that means.

In the simplest terms, an endowment is a fund that supports a particular nonprofit organization, cause, or scholarship in perpetuity. This is an excellent option for individuals and families who want to ensure support for their favorite causes continues, even after they are gone. Donors can add gifts of cash, stock, real estate, or other assets to their fund, save a little on their taxes, and continue their charitable giving through grants or scholarships paid out of the fund.

The key to an endowment is longevity. So rather than making large donations that deplete the fund’s balance, small gifts are made over time, based on the Foundation’s spending policy. Any type of fund can be endowed, from a donor advised fund to a field of interest fund.  

Our donors receive regular reports from the Foundation showing how much they have available to donate, based on deposits and withdrawals made from the fund and the income generated. Often, endowed funds are large and established as part of a bequest. We suggest starting an endowed fund with a minimum of $25,000, which gives donors a solid base to begin to build their philanthropy.

If you want to learn what it would take to endow your fund and support your favorite cause beyond your lifetime, give us a call. We’d be happy to walk you through the process so you can decide if an endowment fits your giving plan.



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