Endowment Giving

You Can Create a Legacy of Education

One of the best ways to create a lasting family or personal legacy and help sustain the future of Heritage for generations ahead is to create an endowment fund. Endowment funds are held in perpetuity and invested for long-term growth while providing an income for the purpose designated by the donor(s). Only the interest earned on this investment is used to fund scholarships.

Scholarship endowments may be designated as restricted or unrestricted. For example, restricted funds can be used for student scholarships for specific majors like business, education or nursing, or to support access to programs that are of interest to the donor and aligned with the mission of Heritage University. Unrestricted funds in turn give Heritage University a larger amount of flexibility to designate the use of funds toward areas of need and can apply these to faculty; staff; development; teaching and research; maintenance; and other needs.

Why create an endowed fund?

Your investment and commitment to education help build the workforce of our communities. Students fund their education through a combination of student debt; State and Federal aid; and private scholarships. As debt burdens grow and public support weakens, the most critical source for keeping college affordable is private financial aid. Heritage is committed to increasing financial aid to our students to facilitate their graduation success.

How do I create an endowed fund?

Funds are established with a minimum of a $10,000 investment and can be named after a variety of options, such as your family name, parents or a valued community leader, or it can be named after your business. A contract agreement is created and includes specific criteria (if any) to the endowment.

Once funded, the endowment is invested for a period of one year, allowing time to earn initial interest. Each year thereafter, a percentage of the interest earned is used to fund your designated program. The remaining interest earned is then reinvested to increase the overall amount of your endowment. The Board of Directors of Heritage University sets the annual reinvestment percentage annually.

How do I receive information about how my endowed fund is used?

A Scholarship Market Value letter is mailed to fund holders annually. It outlines how your funds were used, or in the case of scholarships, how much was awarded, the recipients of the awards and the total market value of your endowed fund.

Can I add to my endowment once it is established?

You can add any amount you want to your endowment fund, as many times as you would like and at any time. Additionally, through your will or estate plan you may designate that a certain amount or percentage of your estate be directed to your fund.

What are some ways in which I can fund an endowment?

Endowments may be funded by an outright gift of cash, securities, a charitable trust, gift annuity, retirement accounts, paid-up insurance policies or a bequest, many of which can maximize tax benefits of your gift.

How does an endowment help a student at Heritage University?

Students are benefited by your support in numerous ways. We also measure community impact as your support adds value to the strength and capacity of communities. While at Heritage University, your investment is pooled with other resources.

For additional information, contact:

Erin Smith, Director of Advancement Services, (509) 865-8586
Smith_E1@heritage.edu