An Endowment is an investment that a charitable organization establishes to provide an unending source of funds for its charitable purposes. In our case that means funding for priority medical equipment and health programs of Central Health.
It is a permanent investment in which the principal, or original investment, remains intact to generate a continuous source of revenue. In other words, we only spend the earnings (ie. interest and dividends) and not the principal. Once the value of the endowment reaches a predetermined level, the charity begins to spend only the interest earned on the original investment.
An endowment allows us to plan for uncertainty in the future by generating a steady source of income. A gift can be made by an individual or company at any point in time throughout the year.
For those that would like to see an Endowment fund created in the name of a family member or company, our Executive Director would be pleased to work with you to ensure that a fund is established which will create a lasting legacy. If you would like more information, please feel free to call Wendy at (709) 292-2393.