Benefits of an Endowment
Many donors find that their philanthropic wishes can be met by establishing an endowment through the Palomar College Foundation. Endowments are permanent funds from which only the income is used. The annual investment income, or interest, is used for the purpose designated by the donor. Additional gifts may be made to the fund to increase the principal and thereby increase the annual investment income. Endowments represent rewarding gift opportunities because they offer the donor the satisfaction of knowing that his or her gift will continue working for future generations.
How and Endowment is established
The Endowed fund may be established with a contribution in the form of cash, appreciated securities, or other charitable gifts such as a bequest. The fund is invested by the Palomar College Foundation, which serves as a steward of the endowed funds. The Foundation is a non-profit, 501(c)(3) organization. Contributors to the Palomar College Foundation are tax-deductible as allowable by law.
Purposes of an Endowed Fund
Donors may specify the details of the fund’s objectives. The following are a sampling of what
an endowed fund can accomplish to enhance educational excellence at Palomar College:
- An annual student scholarship to financially assist those students attending a particular
program at Palomar College.
- A multi-year award for distinguished students.
- A fund to support a specific campus, academic department, program, equipment or service.
- A fund to create additional resources for the library.
A Foundation staff member will be pleased to work with you. Please call the Foundation at
(760) 744-1150 ext. 2733 or contact us at firstname.lastname@example.org