Chapter 23
Building and Growing an Endowment
IN THIS CHAPTER
Understanding the nuts and bolts of endowments and choosing the right one for you
Finding ways to get people excited about funding an endowment
Managing an endowment after you build it
Have you ever read an old Victorian novel in which the hero lives off his trust fund or inheritance? Have you wondered how to create such a viable source of funding for your organization? An endowment is actually quite similar to a trust fund or inheritance: It provides a nest egg of funds, which, in addition to providing for the long-term needs of your organization, may offer some extra support for your annual fund or be used to start a new program.
In times of economic upheaval, however, endowments can take a big hit. Always keep an eye on national economic indicators. In the short term, the energy you spend building an endowment may seem like an ill-advised investment, but over the long term, an endowment will always rebound and provide ongoing support for your organization.
Endowments come in many types, and setting up and managing any of them requires a specific set of resources. In this chapter, I help you discover what an endowment ...
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