What is the Wilson House Endowment Fund?
In order to maintain, preserve and protect this sacred space we all know and love, The Wilson House Endowment Fund has recently been created for this specific purpose. With a gift of $95,000 from the estate of a supporter, along with an outright gift of $27,000 and a $10,000 pledge, the board of directors has established the fund for the preservation, restoration, and ongoing maintenance of The Wilson House and the Griffith Library. With $133,000 effectively in hand and more pledged, our initial fund-raising goal is an ambitious $2 million.
Why is an endowment fund important?
An endowment fund will ensure there will always be sufficient funds available so that The Wilson House and the Griffith Library can be maintained properly in perpetuity.
How does an endowment fund work?
An endowment fund uses the interest and income from investments made with the corpus of the fund. A reasonably conservative investment will generate a return of about 6% – 8%. Annually, 4% is withdrawn from the fund and the remainder is then conserved and continues to grow. The following is an illustration of how this works.
A gift of $10,000 will generate $400 per year ($10,000 x 4%)
A gift of $100,000 will generate $4,000 per year ($100,000 x 4%)
A gift of $1,000,000 will generate $40,000 per year ($1,000,000 x 4%)
How does supporting an endowment fund differ from Annual Fund support?
An endowment fund differs from an annual fund in its vision and purpose. While your gift to the annual fund is critical to the operations of The Wilson House (staff salaries, food, beverage, housekeeping, linens, program expenses, etc.), the endowment fund supports the long-term maintenance needs of The Wilson House and the Griffith Library. Think of it as a savings account for the future, addressing all of the issues associated with the aging properties. And both types of support are extremely important – first, to help cover the annual operational expenses, and second, ensuring the buildings remain in good repair.
Support of the Endowment Fund can be made through a direct gift or you may wish to consider a planned gift by including The Wilson House Endowment Fund in your estate plans. For more information please contact:
Berta Maginniss, Executive Director
The Wilson House is a 501(c) (3) non-profit organization. Donations are tax deductible to the extent allowable under the law. No goods or services have been provided for this contribution.