Giving Series Part 4: Endowments
The fourth way of giving is through endowments. There are several types of endowments, but the basic structure of an endowment takes a gift and manages it for a long period of time to benefit a certain charity, establish a scholarship, or establish an ongoing grant program. An endowment can be funded from a single gift, or from multiple gifts over time, and from a single gifter, or from a group of gifters. Endowments are often created for a specific purpose, with funds managed professionally, and a board of individuals determining how best to grant or spend the funds. Our office has worked with clients to establish scholarship and grant endowments, and to have those endowments administered by organizations like the Community Foundation of Western Nevada, Soroptomist International, the Nevada State Museum of Art and the Nevada Land Trust.