In 1968, fifty-six years after Park's founding, the Board of Trustees launched a fundraising campaign to initiate an endowment so that Park would have a lasting source of income. Donations to the endowment are subject to a requirement that the principal be maintained intact in perpetuity. The dollars collected in the endowment are invested. The income derived from the interest earned can contribute up to 5% towards the operating budget each year. In years when the investment yields more than 5%, the overage is added to the endowment total.
Planned giving enables philanthropic individuals or donors to make major gifts outside of their current income. Planned giving is a set of ways a donor can leave money or assets to the school at his/her death; or a way to invest money so that the donor receives benefits during his/her life and then bequeaths the remaining funds. Types of planned gifts include:
Over the years, Park's endowment has significantly grown, yet today, the national benchmark for a financially strong independent school is an endowment that is equal to THREE times its operating budget. Our current ratio is just above one to one. Help Park grow its endowment today. Contact the development office for more information.