For many decades, Carthage alumni, parents, and friends have shown their generosity, commitment, and loyalty to the College by establishing named endowment funds. An endowment gift is a permanent and personal way to make a difference in the lives of Carthage students.
Endowed funds may be established for a Chair, a Scholarship, or a program such as study abroad. These funds exist in perpetuity and provide support for current and future generations of students and faculty members.
Gifts of all sizes for endowment have helped shape Carthage College. These visionary gifts in support of scholarships, professorships, athletics, academic prizes and awards, and so many other College priorities have been invested and managed wisely to provide ongoing support for the members of the College community. Strengthening the endowment is a top priority for Carthage.
These gifts also reflect a commitment to the future success of Carthage. By establishing an endowment, the donor ensures that his or her values and legacy become a permanent part of the College’s success. Many donors choose to honor family members, friends, or a favorite professor with the lasting tribute of an endowment gift.
Carthage is blessed to offer more than 199 endowed scholarships, 39 endowed programs, and seven distinguished endowed professorships. The lives of the people who established these funds and those of the people who are honored are heartwarming and inspiring. These are individuals whose faith in the College is unwavering.
Each year endowed scholarships make a Carthage education accessible to talented students. A student who receives an endowed scholarship is entering a select group of the College’s best and brightest undergraduates, and many of them will join the ranks of our most distinguished alumni.
Endowed scholarships typically carry the name of the individual, family, or organization that provided the funding. A named scholarship can be established with a minimum contribution of $25,000.
Endowed distinguished professorships allow Carthage to hire and retain the most talented teachers for the faculty and the most capable and inspirational coaches for our athletic teams. In general, distinguished professorships can be established with a minimum contribution of $1.25 million. The income generated by the endowment will yield support for a professor’s salary and benefits and provide additional funds for scholarship research and professional development.
Programs such as student organizations, music ensembles, and athletic teams also benefit from endowed funds. Like a scholarship endowment, each year funds are made available to support the specific purpose outlined by the donor. An endowed program can be established with a minimum contribution of $25,000.
Endowment funds benefit the entire Carthage community today and in perpetuity. We are most grateful to the alumni, parents, and friends who have established and contributed to the more than 200 endowment funds.
Administration of Endowed Funds
The Finance Committee of the Board of Trustees is responsible for the investment management of Carthage’s endowment portfolio. Each year, approximately 4.5 percent of the corpus of a given fund is made available to support the specific purpose outlined by the donor. Any unspent amounts are reinvested for future use.
An endowment is a gift that is held in perpetuity and invested. The return on the investment provides a regular 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 managed professionally, with the intention of aiding the College in perpetuity.
Endowments can be established through current gifts of cash, stock, or real estate, or through planned gifts such as charitable trusts, charitable gift annuities, life insurance, or bequests.
The Board of Trustees has established minimum support levels to guarantee the income will be adequate to achieve the donor’s intent. Although gifts of any size may be added to an existing fund, these minimum thresholds are required to establish and name a new fund.