Establish your Endowment Fund today as permanent testimony of your enduring commitment to the Pine Forge Academy Foundation mission.
Consisting of funds invested to provide annual returns for necessary purposes of the Foundation, endowments help generate income for scholarships, tuition and supports the Academy and ensures the Academy’s unique educational experience will be around for generations to come.
Making a gift to the endowment enhances the Pine Forge Academy Foundation’s financial position and creates a legacy that impacts lives year after year. The gift itself becomes part of the endowment; only its returns are spent on the designated goal. Your endowment gift can be applied in many ways, including establishing a scholarship or programmatic endowment. You may also contribute to the general endowment or to any number of currently established funds
The Importance of an Endowment
An Endowment is the means by which the donor can leave a legacy that will enrich the lives of future generations of students at Pine Forge Academy. It is a permanent fund of support for the purpose specified by the benefactor in a legally binding document. The principal of your gift is invested and grows over time. The Foundation may make distributions from the Endowment earnings during the year to support the purpose specified by the benefactor.
With the creation of an Endowment, you have the chance to build a strong foundation for Pine Forge Academy, now and in the future. Depending on your interest, your Endowment, which provides funds in perpetuity, can be focused or a wide selection of needs for the Academy. As the benefactor, you direct how your funds will be used and when.
Endowed funds managed by the Pine Forge Academy Foundation will be maintained in accordance with the Uniform Management of Institutional Funds Act and applicable IRS tax laws. In addition, the Foundation has an Investment Policy which is strictly adhered to and enforced through our investment manager.
An endowed scholarship fund can be established with a minimum of $500.00. However, the total fund amount must reach $10,000 within 5 years. The contributions to an endowment are placed in the Foundation’s investment portfolio and managed carefully by selected and monitored external fund managers who are selected through a comprehensive selection process.
In addition to the minimum investment of $500, there is a setup fee of $25.00 and an annual maintenance fee of $25.00 which is invoiced annually to the benefactor or the estate. Funds are not distributed from the fund unless and until the benefactor has instructed the Foundation to disburse the funds.
Why Create An Endowment?
Establishing an Endowment through the Pine Forge Academy Foundation is a means for donors to leave an enduring legacy of support. An Endowment can be set up during your life from a gift of cash or cash equivalent, stocks, securities, and real estate property, or it can be established later on with estate assets. Some may prefer to begin the Endowment now and add more to it later through a bequest.
Benefits and Reasons to Establish an Endowment
The idea of creating a perpetual stream of financial support makes sense. The investment fund is guarded and invested separately from other assets so the principal of the fund stays intact. Only the income or a portion thereof is used each year of the Endowment.
Support the Legacy of Excellence
When donors establish an Endowment gift, they create a legacy that will outlive them and provide an enduring testimony of their commitment to the mission and purpose of Pine Forge Academy. Family and friends will be reminded of the person’s love, value and commitment to Pine Forge Academy. An Endowment fund is also a great way to honor the lives of others who have made a significant impact on the progress and Legacy of Excellence at Pine Forge Academy.
Perpetuate Annual Gifts
An Endowment gift is a wonderful way to provide ongoing support to your favorite capital project or academic program at Pine Forge Academy. Your gifts to the Endowment, that you establish, can continue annually.
Build a Stronger Pine Forge Academy for Today and the Future
Each year, PFA requires subsidy dollars to meet operational costs for its facilities, academic programs, and personnel. Tuition alone does not cover all of the Pine Forge Academy operating costs, which is the case with all tuition-based schools. Annual payouts from Endowment funds will relieve some of this pressure and allow administrators and the PFA board to plan more confidently for the future. The academic programs with strong Endowments will be more stable financially and are positioned more advanced and focused curriculum.
There is something wonderfully fulfilling about doing something financially significant to better the lives of our high school students. Knowing your gift will continue to make a difference for years to come in the lives of future African-American Global Leaders is a deep sense of fulfillment and only increases the joy.
For further information please contact:
Edward Pelote, M.D.
President and COO
firstname.lastname@example.org / Office Phone: 216.851.1018