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
An endowed gift is made and invested for long term growth. A portion of the fund is distributed to charitable interests annually, forever. Meanwhile, with prudent investment, the remaining fund balance continues to grow.
The power of endowment during a pandemic
Victor and Katherine Piccoli Endowment Fund
Established in 2011, the Victor and Katherine Piccoli Endowment Fund has supported a wide range of children’s health programs. As COVID-19 forced schools to close across Arizona, ACF was able to provide grant dollars from the fund to organizations, schools, and programs that addressed the health needs of children and families. This endowment fund was able to honor the intent of Victor and Katherine Piccoli while responding to a crisis that they could not have anticipated during their lifetimes.
Minnie M. Ross Fund
This endowment fund was established to support hospitals and homes treating those with respiratory diseases, primarily those suffering from tuberculosis-related issues. As research on the COVID-19 virus and its impact on the body’s respiratory system became available, ACF was able to honor this intent while providing needed grant funding to local organizations responding to the pandemic. The Minnie M. Ross Fund is held at the California Community Foundation, but since Minnie spent a portion of her life living in Arizona, she wanted to ensure some funding would go to local organizations. As part of that arrangement, ACF receives a portion of the funds annually to distribute, thus extending the impact of Minnie’s wishes in perpetuity.