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.
This is the power of endowment.
Lillian and Gordon Macgregor had strong ties to the Yavapai County community. Upon their passing in 2002, the Macgregors’ living trust established two endowed funds at the Arizona Community Foundation totaling $220,000. These funds support causes important to Lillian and Gordon.
The first fund, the Lillian & Gordon Macgregor Scholarship for Sedona, supports students from Sedona and the Verde Valley who wish to pursue careers in healthcare or a related field. The second fund was created to provide professional development opportunities for employees at Yavapai Regional Medical Center.
Thanks to the income-generating power of endowment, the two Macgregor funds have grown by 25% while distributing a combined total of over $184,000 to local students and the Yavapai Regional Medical Center Foundation. The current total balance stands at nearly $293,000, providing a reliable source of funding for the communities of Sedona and Yavapai County for years to come.