Endowments are important ongoing sources of income and necessary for financial security, offering the stability our museums and staff need for current and future acquisitions, programs, exhibitions, outreach, education, and operations. The Foundation is proud to manage 28 endowments that are now valued at more than $16 million. If you are thinking of creating an endowment with the Foundation, consider these questions:
1. Do you want your endowment to be an unrestricted or designated fund?
With an unrestricted fund, our leadership will direct your gift to our most critical needs. With a designated fund, you determine in advance what programs or museum you want your donation to support. The specific details will be incorporated into a written description of your endowment, which must be approved by you and the Foundation.
2. Do you want to fund your endowment now or after your lifetime?
If you choose to establish an endowment fund through your estate, we encourage you to let us know of your wishes in advance to be sure we can honor them. We have sample language to establish an endowment that you can share with your attorney when drafting your estate plan.
3. How much will I need to support or create an endowment?
Any amount can be contributed now or upon your death to an endowment that we have already established. If you are creating an endowment today, we can inform you of the minimum amount required to establish a fund that we can name after you or someone you select.
To make and endowment gift or for more information, contact Ann Scheflen at (505) 982-6366, ext. 108.