WHAT IS AN ENDOWMENT?
An endowment is an investment fund created by foundations and non-profit organizations to create an additional source of consistent investment income, often with a specific purpose (i.e. scholarships). The corpus, or entire body of funds, are protected from use outside the strict policies that guide its function and management.
WHY ENDOWMENT?
The backbone of any fiscally healthy non-profit organization is its endowment and Mowglis is no different. Our endowment fulfills a variety of roles:
- Creates an ongoing source of income. Because a permanent endowment is an invested pool of money that provides a reliable source of income in perpetuity, Mowglis can count on annual distributions for its operation.
- Enhances stability. A well-managed endowment sends a message of planned long-term stability, fiscal responsibility, and financial viability.
- Relieves pressure on the annual fund. The ability of the annual fund to meet increasing demand is not limitless. An endowment can provide annual support for Mowglis’ operating budget.
- Allows program expansion. Specific funds are used to support scholarships and capital projects, while the general endowment funds can be used for any purpose designated by the Director and Board of Trustees.
- Offers flexibility for management. Endowments offer options to meet new challenges by providing greater financial flexibility and self-sustaining income streams.
WHO CREATED OUR ENDOWMENT AND WHO MANAGES IT TODAY?
Many of Mowglis’ endowed funds were created by bequests from alumni and friends of camp. There were often aimed at supporting specific efforts at Mowglis that those individuals held dear, like scholarships or the upkeep of our campus.
The endowment is actively managed by the Board Treasurer and Investment Committee, which is comprised of board members and current parents who work in finance professionally and volunteer their time and expertise to ensure our endowment grows and adapts to the ever-evolving economic landscape.
The growth and management of the endowment is also guided by the Director of Development and the Endowment Committee, also comprised of board members and other volunteers who aid us in soliciting new gifts for the endowment and implementing focused campaigns to grow the endowment.
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Are you interested in supporting this campaign but have some questions? We are SO HAPPY that you’re as excited as we are!
Please contact Jay Gulitti at jgulitti@mowglis.org or (603) 744-8095. He would be happy to help in any way!
