Endowment Fund
WHAT IS AN ENDOWMENT?
Webster’s Dictionary defines endowment as “funds or property donated to an institution, individual, or group to produce income.” However, for the students of the Midview Schools, endowment means so much more. An Endowment Fund is a partnership between donors and their favorite charity and/or institution – a partnership based on the idea of mutual support. By supporting the Midview Educational Endowment Fund, you participate in providing enrichment activities for Midview students. And by using the income generated, the Midview Educational Endowment Fund fulfills its mission by improving the quality of education among the youth of the Midview Schools.
The Midview Endowment Fund is a single pool of resources set up to receive financial gifts. The principal of the Fund remains intact and earns interest. That interest is used by the Midview Endowment Fund to meet its mission and goals. Since the principal remains from year to year, and grows as people contribute to the Fund, the Midview Endowment Fund has a secure financial base from which to realize its vision.
CONTRIBUTION CATEGORIES
Donations may be made to any one or more of the following categories:
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General—General enrichment programs and activities.
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Academics—Student academic programs and activities.
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Performing and Fine Arts—Student performing and fine arts programs and activities.
MANAGEMENT
The Midview Educational Endowment Fund is funded by those concerned about educational opportunities for our youth. Locally an independent Board of Trustees, consisting of at least eleven, but not more than fifteen persons, govern the Fund. The Trustees include Midview alumni, community leaders and representatives and friends of the schools.
All donations to the Fund are deposited through the Community Foundation of Greater Lorain County and held separately for the exclusive benefit of Midview residents. The Fund is subject to the Governing Rules of the Community Foundation. Midview joins other local nonprofit organizations and endowment funds to ensure that the generous gifts of Midview’s supporters are retained in perpetuity.
The Community Foundation must conform to federal guidelines and audit requirements in the management of the Midview Endowment Fund. This assures the integrity of both the Community Foundation as well as the Midview Endowment Fund. The pooling of resources through the Community Foundation permits broader, more diverse investment opportunities, thus benefiting the Midview Endowment Fund with a potentially greater return.
IMPACT
In the early stages of growth, small grants can make a big difference to our youth. Since only the income generated from investments is available for distribution, each year the impact increases as the Fund grows. To learn more about the Midview Endowment Fund, please click on one of the links below:
For more information about the Midview Educational Endowment Fund, or to make a donation,
please contact us at 440-926-3737or E-mail EndowmentFund@MidviewK12.org
