Endowment Gifts

An endowed gift is one in which the original funds are never spent, but instead, are invested for income. The returns on the investment are then used for scholarships or to further the educational mission of the College in the way designated by the donor. In that way, the gift can exist in perpetuity - with the principal intact and growing over time.

There is no minimum for gifts to an existing endowment, though we generally recommend a minimum of $20,000 for establishing a new endowment fund. The Development Office can help tailor a fund to your specific wishes. Endowed scholarships are most popular. The gift will provide investment income annually to award a scholarship in perpetuity. You can specify the criteria for awarding the scholarship and even choose to name it in honor of someone special.

You might also consider an Endowed Library Collection. From the proceeds of this type of endowment the College will purchase new volumes annually, and mark the new books with a striking bookplate honoring your gift or remembering some special person. You can even specify the topic area for these selections (e.g., finance, computer science, or southern writers) and assign a name to the collection (e.g. the R. W. West Collection.) Books are a lasting and dignified tribute.

It is also possible, in the case of larger gifts, to create an Endowed Professorship. Here the proceeds are used to fund the salary and benefits of a faculty position or visiting professor. The donor may choose the academic area to endow a professorship, and name the position to honor someone (e.g. The Helen Canney Distinguished Professorship.) No initiative is more critical to the success of the College than the recruitment of scholars, artful in the skill of teaching.

In the near future, the College hopes to establish a named Faculty Development Fund. Revenue from this endowment will be used to provide faculty with the opportunity to strengthen teaching, pursue further studies, or develop course materials. 

Goldey-Beacom College has a cautious, prudent investment policy and spending rule for endowed funds established by the Board of Trustees. These policies insure a stable, growing income and growth of the original investment. The Business Office of the College calculates yearly payouts for each endowed fund, based on the market value of the fund for the previous 36 months. This encourages the fund to grow, and allows payments to continue despite any fluctuations in the economy. If you wish more information about the investment policy and spending rule, please contact us at gift@gbc.edu.