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I understand that a community foundation focuses on endowment building. What exactly is an “endowment”?

April 26, 2017building endowment focuses foundation understand

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I understand that a community foundation focuses on endowment building. What exactly is an “endowment”?

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It is a permanent fund set up by an individual or organization through a written agreement between the donor and the Foundation. Gifts to the fund are invested. Investment income is used to make grants and scholarships. The original value of the fund is not spent. All of the Foundation’s more than 50 endowment funds are pooled for investment purposes but each individual fund is accounted for separately.