An endowment is made up of gifts and bequests that are subject to a requirement that the principal be maintained intact in perpetuity, and invested to create a source of income. The income derived from the interest earned can contribute up to 5% towards the school’s operating budget each year.
While dollars raised from annual giving are spent each year, an endowment provides lasting financial security. In 1968, fifty-six years after Park’s founding, the Board of Trustees launched a fundraising campaign to initiate an endowment. They sought and succeeded in securing $600,000, and the Park endowment was born. Over the years, Park’s endowment has grown significantly to over $40 million today.
If you would like to learn more about how you can help Park grow its endowment today, contact the Development Office at 410-339-4146 / firstname.lastname@example.org.