An endowment is a permanent gift to the McCoy College. The endowment holds your entire gift in a perpetual fund which grows forever in its ability to contribute to the College and your area of interest, as you specify in an agreement between you and the College. Endowment gifts allow both the corpus – your original gift – and the income the corpus generates to grow. An endowment is a permanent gift that provides one of the most secure sources of future revenue for the College to support outstanding students, stellar faculty, quality research, and innovative programs. Endowments may be named to recognize the donor; to honor a family member; or to celebrate a loved one, mentor, colleague, or dear friend.
The McCoy College Foundation currently has matching funds available to donors. For example, if you wanted to create a scholarship endowment, a donor’s gift of $25,000 would be matched by the Foundation to create a $50,000 scholarship. In essence, the funding levels listed above are cut in half as long as matching funds are available and the purpose of the gift meets the matching criteria.
Endowments may be funding in a variety of ways:
• Outright gift of cash
• Gift of cash pledged and paid over a period of time up to five years
• Gift of stock
• Gift through an estate
• A combination of the above
Endowment gifts are tax deductible to the extent allowed by law. Different methods of giving afford different tax advantages. We encourage you to consult with your professional advisor(s) when making any decisions regarding your assets.