A named fund becomes a forever symbol of the bond between the Institute, the individual who is honored, and those who loved the individual.
Honor an individual or the memory of a loved one by establishing a permanently endowed fund in his or her name.
Endowment funds can be established to support excellence throughout the Institute. Donors may specify the purpose for which an endowed fund is to be used, in accordance with institutional needs and policy. Some examples are:
- Programs, centers, and departments
- Teaching, research, and projects
- Capital projects
Through an endowed fund, the donor transfers assets to the Institute, which are carefully managed in conjunction with Partners Treasury to protect the principal as a long-term investment, while distributing income each year for the purpose specified.
An endowed fund may be built over several years, and additional gifts may be added to an endowed fund at any time.
A minimum of $50,000 is required to establish an endowed fund.
Current Use Funds
A current use fund provides another opportunity to create a named fund. It differs from an endowed fund in that the gift is available for use in the fiscal year in which the Institute receives the gift.
A current use fund can be used to support scholarship or a particular program, center, or project. A current use fund can be funded with an outright gift or through a planned gift or bequest.
The minimum amount to establish a current use fund is $10,000.