What is an Endowment Fund?
An endowment is a long term, permanent fund that provides income each year to support a charitable cause.
Why is an Endowment Fund Important?
An endowment provides essential stability. It facilitates the strategic use of funds because it allows the Library to plan on the income from one year to the next. An endowment fund provides an excellent option for donors who want to make a planned gift.
What is a planned gift?
Planned giving describes a number of giving options that allow donors to support the Library during their lifetime and/or after their deaths, while meeting current income needs and providing for heirs. Planned giving is often done in connection with estate planning or will preparation and is a giving option for donors of all income levels.
Who makes gifts to the endowment?
Anyone can support the Library’s future with an endowment gift of any size. Examples include gifts made through a will or trust, gifts of retirement plan assets, gifts of life insurance, gifts that pay you income for life, gifts through a charitable lead trust.
Do you have questions or need more information?
Please contact Rebecca Lowe, Library Development Director, at (302) 645-2733, ext. 4117 or by email.