Giving Opportunities for Keystone Donors
What Specifically Is an Endowment?
Scott & White Healthcare requires substantial, consistent, and permanent funding and, by receiving such funds, Scott & White can continue to provide increased access to high quality healthcare, provide graduate medical education, and fund research programs. Endowment funds meet such a need. An important objective that guides the investment of endowment funds is to preserve and maintain the real purchasing power of the principal. Gifts are invested in perpetuity, and distribution from the invested contributions is used to fund important programs and activities.
How to Establish an Endowment Fund
New named funds are established by a written gift agreement with the donor upon receipt of a gift of $25,000 or more. Endowment descriptions are approved by the donor, the department that is proposed to administer the fund, and the Foundation Board of Directors. Endowments for certain purposes may require a higher minimum contribution, such as to create endowed chair, an endowed fellowship, or an endowed lectureship.
How Are Endowments Administered?
The endowment description, authorized by the Foundation Board of Directors when the fund is established, states each named fund’s purpose. Each fund is administered by the department designated by the donor(s) and the Board of Directors. It is the responsibility of the department chair or another designated individual to make expenditures from the fund under directions set forth in the endowment description. If distributions are not used in a given fiscal year, the department may carry the balance forward into the next fiscal year for purposes specified in the endowment description, or the unused distribution may be reinvested to principal.
Appreciated for their flexibility and variety, almost any type of gift can be placed into an endowment fund. The types of gifts that can be used to create endowments include:
- Gifts of cash or property
- Residual interest of a charitable remainder trust
- Residual interest where the donor retains use of a principal residence or other property
- Death proceeds of life insurance
- Cash value of life insurance
- Gift element of a gift annuity
- Proceeds received at maturity of a stripped bond
- Retirement funds designated for the charity
Endowments help ensure Scott & White’s continued ability to attract nationally distinguished physicians and scientists and to attain vitally important research and education goals. These funds provide crucial dollars while allowing you to recognize and honor cherished individuals through naming opportunities.
There are many ways by which you can support the Scott & White though the creation of an endowed fund.
To learn more about establishing an endowment, please contact the Scott & White Healthcare Foundation at 254-724-2768 or 800-293-4483 (toll-free) or email firstname.lastname@example.org
Ways to Give
Make a difference at Scott & White through our Corporate Circle and Children’s Miracle Network programs.
Learn about Scott & White Foundation Partners and how grants help fund valuable research and education initiatives.
Support Scott & White through your estate and explore opportunities to both give and receive.
Support Scott & White through annual gifts that go immediately to support our areas of greatest need and current fundraising opportunities.
Scott & White alumni support the ideals and future of Scott & White and healthcare innovation.
Honor the legacy of a friend or loved one by making a gift to Scott & White in their honor or memory.