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  • 1.  Creating an endowed fund from program revenue

    Posted 04-12-2021 03:12 PM
    We have a restricted account used for a partnership program we have with our city public elementary schools.   It is a mentorship and academic support program providing transportation, meals and camp in the summer.  The director is paid by Bancroft but he does the annual fundraising including a golf tournament for his budget needs.  We are looking to create an endowed fund with excess revenue, enhanced by the pandemic and most operations having been virtual etc.  Moving forward there would be operational and endowment fundraising like we are familiar with in advancement.  I might be over-thinking this but what type of language do we use in the creating of the endowed fund, in terms of where the seed money comes from.  Or, am I stepping on a landmine here?  Looking for some direction before I need to get school counsel involved.
    Thanks
    Tina

    ------------------------------
    Tina Gorski-Strong
    Chief Advancement Officer
    Bancroft School
    tgorski-strong@bancroftschool.org
    ------------------------------


  • 2.  RE: Creating an endowed fund from program revenue

    Posted 04-12-2021 03:24 PM
    First, you might want to consider the creation of a quasi-endowment, not a permanent endowment.  I've seen that lots when using internal excess funds to create an endowment.  Does Bancroft have a policy on establishing quasi-endowments?

    As to your question on language, I would start with your standard endowment template.  Rather than listing donor names, you list the sources and amounts of the internal funds being used to create the endowment.

    But, then, go to Counsel :-).

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987






  • 3.  RE: Creating an endowed fund from program revenue

    Posted 04-12-2021 03:28 PM
    I've just come across a reference to quasi-endowment but there is nothing in our newest gift policies that mention that.  Do you have a resource for how I can learn about this?

    Tina Gorski-Strong, P '23
    Chief Advancement Officer
    Bancroft School
    508.854.9201
    Pronouns: she, her, hers

    Every Donor Counts!


    "Some people are never going to clap for you. Win anyway."





    Original Message


  • 4.  RE: Creating an endowed fund from program revenue

    Posted 04-12-2021 03:34 PM
    Here's a decent reference:


    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987





    Original Message


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