A great way to honor a family member.
The Educational Foundation is creating a permanent Endowment Fund. Gifts that are designated for the Endowment Fund will be invested and a portion of its average annual investment return is used for scholarships and grants. The initial investment and any excess return over the Board-determined amount to be used will continue to be invested and grow, insuring that the principal maintains its value over time. This fund is a great opportunity for anyone who wants to create a scholarship to honor a family member, friend or business colleague.

Scenario:  A donor gives $25,000 gift to the Endowment Fund to be used for a scholarship in the name of a particular person or group to be honored.  The Foundation invests this amount with an expectation of at least a 5 % annual return. This would result in a $1,000 scholarship and $250 to be added to the original gift. The following year, $25,250 would be invested, resulting in a $1,000 scholarship and $262 added to the amount.  The following year, $25, 512 would be invested.

Contact Veva Johnson, Board Member at 781-335-4055.