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.
Since its creation, over 50 community nonprofits received grants from The Raquel Piekarski Fund.
Thanks to the impact and power of endowment, the Raquel Piekarski Fund’s initial gift of $779,000 has grown to over $975,000 while distributing over $1 million in grants to local organizations.
How a Gift Becomes a Fund