What is a separate, named endowed fund?
A separate, named endowed fund can bear the donor’s name or the name of someone he or she chooses to honor. The fund can also be designated for a particular program, department or activity on campus. Because an endowment exists in perpetuity, a named endowed fund is an enduring legacy, forever linking the name of the donor to the achievements he or she has made possible. To ensure that the earnings from an endowed fund are sufficient to achieve a donor’s intent, both now and in the future, Augustana has established minimum support levels for various types of endowed funds. The minimum amount required to establish a separate named endowment may change from time to time to reflect the nation’s changing economy. A separate endowment fund may be established with a lesser amount than the stated minimum with an understanding that the fund will grow to the minimum level within a reasonable period of time – usually five years.
