You can establish a named endowment fund using cash, securities, real estate or through an irrevocable planned gift or bequest in your will. This can also be accomplished by a combination of gift options. Many people start a named endowment fund early so they can watch it grow and enjoy the satisfaction of seeing their fund benefit others, adding to it periodically and through a final provision in their estate. Some even encourage friends or family members to become involved by contributing to their fund.
Named Endowment Fund Guidelines
All gifts to Darlington’s endowment are necessary and appreciated. Still, a named endowment fund receives special recognition because of its significant level of support.
Acknowledgment and stewardship are provided for named endowment funds via:
- Listing in the Honor Roll of Donors
- Regular communication
- Financial Reports
- Recipient Reports
- Use of name in public forums, including print materials and presentations
- Support: In general, the minimum level of support that earns special recognition as a named endowment fund is $25,000, payable over a designated period of years. In certain areas, higher
minimums have been established as follows:
|Special Named Endowed Fund Levels|
|Full Scholarship (resident student)||$600,000|
|Full Scholarship (day student)|| $300,000|
|Named Scholarship (partial)|| $100,000|
|Named Family Fund|| $25,000|
|Named Award or Prize Fund|| $10,000|
|Faculty Chair|| $1,000,000|
|Master Teacher Fund|| $100,000|
|Faculty Development/Research Fund|| $100,000|
- Investment: The principal of an endowment fund will be invested as part of the Darlington endowment according to the investment policies established by the school’s Board of Trustees and carried out by the Finance Committee.
It is Darlington’s policy to invest all endowment funds in a balanced and broadly diversified portfolio comprised of conservative, fixed-income securities (bonds and money market funds) as well as more aggressive equity securities (stocks and managed stock funds).
- Elements that can be influenced by the donor:
- gender of recipient
- merit vs. need (what academic standards, if any, are required)
- a student’s locale (preference can be given to a specific geographical area)
Darlington is able to help draft the legal documentation needed for an endowed fund.