An endowment is a gift that is held in perpetuity and invested. The return on the investment provides a constant source of income for the activities designated by the donor. Endowment funds at Carthage help maintain the institution’s financial strength. The College’s endowment program provides the assurance that contributions from friends of Carthage will be professionally managed with the intention of aiding the College in perpetuity.
The Endowment supports student scholarships, curricular and co-curricular programs. A gift to the endowment helps both current students and those who will be here 50 or 100 years from now.
Endowments can be established through current gifts of cash, stock or real estate, or planned gifts such as charitable trusts, charitable gift annuities, life insurance or bequests. At Carthage, when contributions to an endowed scholarship fund reach $25,000, it is considered fully funded.
Carthage uses income generated from an endowed fund to meet the wishes of the donor(s) as described in a written agreement. Administration of the fund is the responsibility of Carthage’s Office of College Relations.
A donor may make additions to an endowed fund at any time. Such additions shall be made subject to the provisions of the endowment fund agreement. If at some time, the purposes of an endowed fund cease to exist, the fund then may be redirected at the discretion of the Trustees of the College. In such a case, special consideration is given to the original intent expressed in this agreement.