Thanks to a generous donor, the Allan Hancock College Foundation has created a new, permanent endowment fund.
According to foundation officials, the new fund is unique because its donations remain intact and are invested. Only the investment revenue is spent.
The fund’s initial donor wanted to “establish a way for individuals or groups to give ‘permanent gifts’ that could benefit all of the college’s programs forever, in perpetuity,” Executive Director Jeff Cotter said in a press release.
Normally, to establish an endowment, a donor needs to start with a minimum of $10,000.
“With the Allan Hancock College Endowment Fund, donors can be part of a permanent endowment for the college no matter the level of their gift, and because the new fund is set up to support all the programs of the college, a donor can give a gift to the fund and know that it will be used where the need is greatest,” he added.
For more information about foundation, call Cotter at 925-2004 or e-mail him at jcotter@hancockcollege.edu.
This article appears in Dec 22-29, 2011.
