Endowments are permanent funds in which the principal is held in perpetuity and only the investment income is expended annually. Endowment gifts provide long-term sources of funding for the College. Endowed funds support activities not just for one year, or even one generation, but forever.
An endowment can be established with a minimum contribution of $10,000. Each year an endowment provides a distribution of 4% of the three-year rolling average of the total endowment account. The Foundation does not expend any principal amount of the gift, but may expend income and market appreciation derived from investing the funds.
An endowment can:
- Be named in memory or honor of an individual or company
- Be designated to a campus, several campuses, or statewide
- Be directed to a scholarship, a specific program, an area of interest to you, or unrestricted
- Be utilized to recruit students or assist current students in completing their education
- Assist in recruiting faculty, adjunct faculty, and staff or provide them educational opportunities
- Provide travel opportunities, equipment or materials
Kim Placek is a Workforce Quality Assurance Program Coordinator at Ivy Tech in Indianapolis. “Ivy Tech is where I commit my heart and soul every day,” she says, “and I believe it is the perfect place to honor my parents’ memory. Ivy Tech has given me so much as an employee; I wanted to ‘pay it forward’ to our students.”Kim established and contributes to two Lighthouse Endowments, currently funding scholarships in Bloomington and Indianapolis, with a third scholarship fund to support students on an additional campus nearly endowed. Through her currently established endowments and through a planned gift commitment, Kim intends to create endowments at 19 Ivy Tech campuses to support students with one or more deceased parents. She is a proud member of the Cornerstone Society and is building her legacy across the state through planned giving.