What is the difference between an annual gift and an endowment gift? How does Centre’s endowment work?
An annual gift is to be used in its entirety during a specific time frame. An endowment gift is placed in an account that exists in perpetuity and ensures long-term growth. Each year, a certain percentage of the endowment – approximately 5 percent of the total value of the endowment fund at the beginning of the fiscal year – can be used for various scholarships, programs, and projects. The payout, or draw down, from the endowment will be used according to the purposes agreed upon between the donor and the College at the time the gift was made.
