The Athenaeum/seminary manages a number of named, endowed funds. Alumni, corporations, foundations and friends have established unrestricted and restricted endowed funds.
Restricted endowment to establish/underwrite chairs professorships, burses, student aid and recruitment, faculty development, and program funds. The principal is held in perpetuity, and only the endowment income is spent. Funding requirements to create/establish an endowed fund vary by initiative and start at $25,000 .
Endowed Gifts ensure the long-term excellence of The Athenaeum of Ohio/Mount St. Mary's Seminary by establishing/ funding endowed chairs, professorships, burses (scholarships), faculty initiatives, academic programs, and campus grounds/building permanent upkeep.
An endowed gift is one that is held in perpetuity. The gift is invested, with a portion of its annual investment return used for purposes specified by the donor. To protect against the erosive effects of inflation, the remaining investment return is added to the principal. Therefore, a donor who gives an endowed gift can be confident it will grow and continue to sustain the Athenaeum/Seminary in the years to come.
The real power of a contribution to the endowment is in its twofold benefit. An endowed gift generates a perpetual revenue stream that finances the Athenaeum/Seminary's future. It also reduces dependence on the operating budget, freeing those dollars to underwrite innovations in teaching, learning, and research.
Gifts of cash and appreciated securities are assets commonly used to establish an endowed fund. To establish an endowed fund requires a signed endowment agreement with a minimum commitment of $25,000. All endowed gifts may be named. Donors may have their names-or the name of a loved one or other honoree-linked to their fund. Once established, donors may continue to give to a fund throughout their lifetime and through their estate planning.
You can make a gift of any size to an existing endowment fund without signing an endowment agreement. There may be an existing endowment that reflects your interests and to which you can add your support. Also, many donors who have established endowment funds in the past continue making gifts to them over time. The larger a fund is, the more it can do each year.
An endowment agreement between the donor and the Athenaeum/Seminary permanently defines the purpose of the fund. Endowment assets are invested, and each year, a portion of the value of the fund is paid out to support the fund's purpose, and any earnings in excess of this distribution are used to build the fund's market value. In this way, an endowment fund can grow and provide support for its designated purpose in perpetuity.
The Athenaeum/Seminary has set different minimum funding levels for different types of endowments:
Income from unrestricted endowment is a permanent and predictable source of revenue that funds and supports every dimension of the Athenaeum/Seminary. As the unrestricted endowment grows, the Athenaeum/Seminary can rely more on endowment income, relieving our dependence upon tuition revenue and providing the flexibility to shift those dollars to more pressing needs like financial aid, faculty support, information technology and deferred maintenance.
Gifts to unrestricted endowment help support and sustain the excellence of academic and programs at the Athenaeum/Seminary.
A restricted endowment fund is any fund targeted for a specific purpose or cause. In an ever-changing world, restricted funds provide a stream of permanent income to safeguard the programs and organizations that matter most to you.
- $25,000 will establish an unrestricted financial aid endowment.
- $500,000 will establish an endowed burse restricted full scholarship for one seminarian's education per year in perpetuity.
- $1,000,000 will establish an endowed chair to support a full professor.
- $1,000,000 - $3,000,000 will establish an endowed chair to support a faculty member holding the distinguished designation of chair of an academic studies/department or dean of an academic division/institution.
Faculty support, academic programs, information technology and deferred maintenance
Gifts to facilities deferred maintenance endowment provide necessary income to help offset the rising cost of routine and deferred maintenance, as well as the opportunity to conform existing facilities to today's safety codes as necessary. Gifts directed to endowment in support of faculty and academic programs enable the Athenaeum/Seminary to continue to attract and retain the very best teachers while reducing our reliance on tuition revenue. The Technology Endowment Fund is initiated in order to enhance the Athenaeum/Seminary's ability to pursue items and resources of a technological or digital nature that are not covered through our annual operating budget As the invested Fund monies grow over time, the available generated interest will enhance the ability to stay current with technology developments as they occur and provide continued growth of the Athenaeum/Seminary's technological and digital resources.
- No minimum amount required to assist one of these endowed priorities
- $25,000 minimum commitment required to establish a named fund. Every program, project or initiative will vary regarding the amount necessary to endow depending on the specific budget for each initiative.
To inquire about making a capital gift, please contact the advancement office at (513) 233-6153.