A great way to honor a family member.
The Massachusetts Educational Foundation has created a permanent Endowment Fund. Gifts that are designated for the Endowment Fund will be invested and a portion of its average annual investment return is used for scholarships and grants. The initial investment and any excess return over the Board-determined amount to be used will continue to be invested and grow, insuring that the principal maintains its value over time. This fund is a great opportunity for anyone who wants to create a scholarship to honor a family member, friend or business colleague.
Scenario: A gift of $25,000 is donated to the Endowment Fund to be used for a scholarship in the name of a particular person or group to be honored. The Educational Foundation invests the $25,000 and if the investment returned 5% annually it would yield $1,250. This would enable the Educational Foundation to award a $1,000 scholarship and $250 to be added to the original gift. The following year, $25,250 would be invested, and the 5% return would allow for a $1,000 scholarship to be awarded and $262 added to the original gifted amount. The following year, $25,512 would be invested and so on.
Contact us for further information using this form or the address below.
Massachusetts Educational Foundation, Inc
PO Box 192
Accord, MA 02018-0192
Phone: 781-335-4055
