Endowments are among the most effective ways of providing a stable financial foundation for The Heckscher Museum of Art’s educational mission. They offer unique naming opportunities, providing public acknowledgement of the gift in perpetuity.
Endowment gifts can be made for any amount as unrestricted funds that generally support the Museum’s needs, or restricted funds that fund specific programs or initiatives. In most cases, a sum of money is given and the principal of that gift goes untouched, while a portion of the income it generates is used for general support or a specific purpose. The larger the gift, the greater impact it will have in generating revenue to support the donor’s intent.
The Museum’s Investment Policy allows for approximately 4 to 5 percent of an endowment fund’s total annual return to be allocated to the purpose established by the donor. The remaining income is reinvested in order to grow the principal. This policy provides for the continual growth of the principal over time. The Museum’s Endowment Fund is managed by investment professionals with the oversight of the Museum’s Finance Committee, a standing committee to the Board of Trustees. Finance Committee members also include the Executive Director & CEO, and the Director of Finance.
For more information, contact:
Michael W. Schantz, Ph.D., Executive Director & CEO at email@example.com
Deborah Johnson, Deputy Director & Director of Development at firstname.lastname@example.org, 631-351-3006.