The Power of Endowed Funds
When Einstein was asked what the most powerful force in the universe was, he paused for a moment and then quipped “compound interest.”
In general, “an endowment is a permanent fund whose assets are invested to generate income to be used by the beneficiary nonprofit organization.” An endowed fund receives charitable donations of money or property with the stipulation that the donation be invested and that the donation principal remains intact. The institution supported by the endowment can spend only the annual earnings of the invested principal and in accordance with the wishes of the donor. This allows for the gift to provide support to the institution for an unlimited number of years.
Funds donated to the Unrestricted Endowment Account will remain in that fund with investment income generated will be designated by the Fund Advisory Committee for projects within the Columbus area community.