The Board of Trustees has established minimum support levels to guarantee the income will be adequate to achieve the benefactor’s intent. Although gifts of any size may be added to an existing fund, the minimum thresholds listed are required to create and name a new fund.
For more information about giving to an existing endowment or creating an endowed fund, contact the Office of Gift Planning at firstname.lastname@example.org or 1-800-331-4943.
Endowed Chairs/Professorships: $2 million
Quality faculty form the backbone of Beloit, and receiving a named endowed professorship is a mark of teaching excellence. A named endowment of $2 million or more will yield support for a professor’s salary and benefits, and provide additional funds for scholarship research and professional development. A full roster of prestigious endowed chairs will not only honor our most distinguished senior faculty, it will also enable the college to attract and retain the best young scholars and teachers in the future.
Endowed Funds: $25,000
Whether it be scholarship, programmatic support, or fellowship creation, endowed funds require a minimum gift of $25,000 to enable opportunities. Endowed funds in support of an academic department or program such as a lecture series or student internships. Donors may also establish or add to named funds that support athletics, entrepreneurship, the museums, international education, and campus maintenance.
About Endowed Funds
An endowment is comprised of hundreds of funds established by donors. The distributions from these funds keep Beloit moving forward, acting as a source of financial stability in times of unfavorable economic change and ensuring great programs that promote discovery, intellectual curiosity, and social responsibility can continue. Your gift will be permanently invested to provide an annual return for Beloit, whether it’s through a general gift, a named scholarship fund, an endowed program fund, or funding for or creation of an endowed chair.
Your gift will be invested wisely with the goal of preserving or increasing your gift’s purchasing power. The endowment is managed by the investment committee of the Board of Trustees who is responsible for determining the investment objectives and policies. The college also utilizes the services of an investment consultant/custodian. The allocation of investment income from the endowment is used to support the operations of the college. The current spending rate for restricted endowments is 4.5%, which is based on a three-year rolling average. An additional allocation is made from investment income to fund development activities at the college.
Who decides how endowment money is spent? In general, the donor decides by choosing from the following options:
- Direct gift to the general endowment – the Board of Trustees decides how income from this general pool will be spent.
- Add to an existing fund – these gifts are subject to the restrictions already established by the original donor.
- Create a new fund – by working with the college, the income designation is determined by what best fits program needs and the donor’s interests. You can also name a fund in your name or an individual for whom you wish to honor.