An endowment account is created under the terms of a gift agreement which indicates the account is not wholly expendable on a current basis. Contributions to an endowment can be in the form of cash, securities, life insurance, or real estate. You may also establish an endowment through planned giving options, including your will or charitable trusts.
New contributions to endowment accounts are invested quarterly into the endowment investment pool. Interest, dividends, realized capital gains/losses, unrealized gains/losses and other investment income are allocated monthly to the endowment account based on the number of shares the account owns in the endowment pool at the beginning of the month.
An endowment account has a corresponding expendable account. A portion of the endowment account revenue is distributed annually to this corresponding expendable account to be used for the endowment’s stated purpose indicated in the gift agreement.
The minimum amount required to establish an endowment is $25,000 (payable over a period of us to five years). When you create an endowment, you are creating a legacy that lives forever. This option allows you to pay tribute to a loved one, special mentor, your family, or yourself.
More specific information regarding endowments is available on the SIUF website endowment page.
Honorary Endowments are gifts that are intended to recognize individuals who have provided extraordinary leader ship and service to SIUSOM. The following have been recognize: