Endowments are permanent funds in which the principal is preserved and invested, with a portion of the earnings distributed annually for charitable purposes.
Providing for community needs in perpetuity
Endowments carry an inherent power to provide for community needs in perpetuity through continued growth. Over time, distributions exceed the original gift, while the fund balance continues to grow, thanks to responsible management.
- The Edward B. Burr Foundation, a private foundation converted to a donor advised fund in 1988 with $160,506 in assets, has distributed more than $167,000 in grants during the past 29 years and has a balance of $364,173.
- The Holbrook Pyle Foundation, a donor advised fund at ACF converted from a $1.6 million private foundation in 1988, has awarded $2.1 million in grants and maintains a balance of $2.7 million.
- The Raquel Piekarski Fund, an endowed fund established at ACF in 1993 with estate gifts totaling $804,777, has awarded $843,235 in grants over its history and has a fund balance of $890,014.
- The Joseph S. Lentz & Mary Trigg Lentz Fund, an unrestricted fund established in 1994 with estate gifts of $500,000, provides over $35,000 annually to support Dr. Lentz's chosen recipients and unrestricted gifts. As illustrated below, the fund has grown by nearly 50% after distributing almost $750,000 in grant funding for the six charities selected by the Lentz family and through discretionary grants. The current fund balance stands at $748,405.93 with the future opportunity to support Dr. Lentz's legacy.