Where to Give: Endowment Fund
Endowments Are Forever
If you wish to make a gift to CGCC that will last forever, you should consider making a gift to the CGCC Foundation general endowment fund or creating your own endowment.
Gifts invested into the College Foundation’s general endowment fund make an impact now and in the future, ensuring longevity of donor intent. Since an endowment’s principal is never spent, the funds create financial stability, allowing CGCC to be less dependent on unpredictable sources of revenue. The endowment fund’s interest is used for the area of greatest need at the College, including scholarships, college programs, capital construction and foundation operations.
CGCC Foundation General Endowment Fund
This endowment is a long-term investment in the College that provides benefits to students and faculty year after year, generation after generation, because the gift principal is invested and grows over time while only part of the income is spent. It becomes a permanent fund of support for general purposes at the College. There is no minimum amount for gifts to the CGCC Foundation general endowment fund. These gifts are added to the overall CGCC Foundation general endowment investment pool.
Named Endowment Fund
Creating an endowment allows you to offer permanent support for a specific purpose based on your passion or interest. Some areas you may choose to establish an endowment are: scholarships, faculty/staff development and unrestricted use (applied by the Foundation Board wherever needs are greatest). We encourage you to work with Foundation staff to ensure that your gift will accomplish your goals over time. We can assist you with structuring your gift so that it provides support that is meaningful to you as well as has a positive impact on the teaching and learning that takes place at Columbia Gorge Community College.
You can establish an endowment through outright gifts using almost any type of asset that can be liquidated. Please consult your professional advisor to discuss the best ways for you to create an endowment fund. The recommended minimum amount to establish your own named scholarship endowment is $100,000. The income of your own endowment fund is used for purposes decided upon by you, the donor.
Benefits for You to Contribute and/or Create an Endowment
When you choose to make a long-term investment in the College through contribution or creation of an endowment, you will receive a few benefits.
- You will leave a legacy that will provide continuous resources to the College and community year after year, generation after generation
- You will meet students and/or faculty/staff who directly benefit from your generosity
- You will become more informed about the improvements and opportunities made possible by your endowment
In addition, when you contribute to the general endowment fund or create a named endowment fund, the Foundation would like to express its gratitude to you by recognizing you as a member of the Compass Club.
Endowment Growth and Distribution
The CGCC Foundation general endowment fund, established in 2009, reached over $100,000 this year after depositing $60,000 into the endowment fund from unrestricted donations received from individuals and businesses.
CGCC received a Title III grant in 2010 that included an endowment match challenge. The Title III grant will match up to $200,000 during the grant’s life, which is five years. In order to receive an annual match from the federal government, the Foundation must raise $40,000 each year of the grant. The grant’s fiscal year begins October 1 and ends September 30. Any unused match can roll forward to the next grant fiscal year to be matched.
The Foundation Board has delegated authority over its financial affairs to the Finance Team. The Team is responsible for regularly reporting on investments to the full Board. The Finance Team oversees the endowment fund by monitoring the portfolio and reporting to the board quarterly. The Foundation has a long-term perspective and a conservative, disciplined approach to investing to ensure the strength of the endowment.
In carrying out its responsibilities, the Team and its agents will act in accordance with this Investment Policy and all applicable laws and regulations. To see the Investment Policy, please click here.
The Foundation works with a professional investment advisor to manage the endowment fund. The Foundation Board’s Finance Team oversees investment policies and regularly evaluates the investment advisor’s performance.
Gifts for endowment are invested in the Foundation’s general endowment fund. Each named endowment retains its own purpose and account number, and the Foundation tracks growth in principal and distribution over time. But, for investment purposes, there is an advantage to pool all funds together.
Assets, income and capital gains are to be invested in a manner consistent with the mission of the Foundation and in compliance with the investment policy. Funds will be invested in short, intermediate and long-term investments according to the cash flow needs of the Foundation.
The Finance Team is developing a spending policy for the endowment fund.
If you are interested leaving a legacy in your community by contributing CGCC Foundation’s general endowment fund or creating an named endowment, please contact Steph Hoppe at email@example.com or 541-506-6113.