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The little rabbit in the television commercial, promoting long-lasting battery power, is a good image for the enduring character of an endowment fund. Once established, an endowment fund just keeps paying out money year after year. Unlike the battery that eventually runs down, it lasts in perpetuity. Perpetuity is a long time. The permanence of an endowment is exactly what attracts some benefactors to this means of supporting Thomas Aquinas College. They like the idea that the principal of their gift will stay intact while the income will be used to sustain the important mission of the College: Catholic liberal education, faithful to the Church. They realize that some day they will be gone and their outright annual gifts will no longer be available to help meet current needs. Through an endowment, though, they can keep making their annual gifts. Some endowment donors are also attracted to the opportunity an endowment gives to memorialize a loved one or other respected person. They use this perpetual giving arrangement to bring honor and recognition. Father Salvator Franco (may he rest in peace) and his sister, Helen, for example, established first an endowment in honor of their parents, Mr. and Mrs. Gennaro Franco, and then an endowment in honor of St. Padre Pio. At Father's and Miss Franco's request, these endowments have been used exclusively to support students who could not attend Thomas Aquinas College without financial assistance. Since these endowments for financial aid were established in the 1990s by Father Franco and his sister, their funds have been carefully invested, producing a two-fold effect: 1) funds nearly equal to the original gifts have been distributed as financial aid to deserving students and 2) the original gifts are themselves now worth twice what they were when given. Thus, in effect, the Francos' endowed gifts have now nearly tripled in value, and they will continue to grow and assist young people who would otherwise not be able to complete their education at Thomas Aquinas College. An endowment can be created during life or at death through a bequest or trust remainder. It can be restricted to specific needs of the College or it can remain unrestricted to help the College meet its general needs. You can create your own endowment or contribute to one that already exists. One can be made with a single gift or with repeated gifts. They can also originate from a single source or through the efforts and support of many persons. Endowments are especially useful in drawing other family members into the giving arena. For example, grandparents who establish an endowment in the family's name provide their children and grandchildren with a continuing bond with Thomas Aquinas College, and they have the satisfaction of seeing "their" annual endowment grant benefit an important and noble work. Thomas Aquinas College has developed sound policies for creating and managing its endowment funds. This information is available upon request. For further information, please contact Director of Gift Planning, Mr. Thomas Susanka, at tsusanka@thomasaquinas.edu or 800-634-9797. He can show you a variety of ways to make an endowment dream come true. -- Qtrly Newsletter, Spring 2008 |
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