An endowment is a gift that has been given to a charity or charitable foundation that is used for continuing support. The original gift amount is never touched; only the interest earned is ever used. In that sense, it can fund the purpose for which it was given forever.
Why is it important that Salem has an endowment fund?
Having a sizable endowment is so important because it can protect Salem's mission and ministry from the ups and downs of the economy.
Endowments are good for donors too. By giving an endowment, donors can do more together than would be possible to do alone, such as:
- Create innovatve responses to the challenges of the healthcare industry
- Seize opportunities that can move the mission and ministry of Salem forward
- Meet the ever-changing healthcare environment with Christian-centered responses
A 2017 study by the Giving USA Foundation found that as little as 10% of the aging services organizations in the US have an endowment. Salem is one of that very fortunate 10%.
The Salem Lutheran Home Charitable Foundation utilizes Thrivent Financial to house the investment portfolio of all endowment funds. The advantage of investing all endowments through Thrivent is that they create a larger pool of dollars that earns far more interest than many smaller endowment funds could do individually.
If you are interested in talking about endowments and how an endowment gift could help grow the balance of Salem's Charitable Foundation Endowment, please reach out to Tami Schechinger at 712-764-4201 or by email at firstname.lastname@example.org so we can begin the conversation.