The IMSA Fund Endowment
A healthy endowment will be the IMSA Fund for Advancement of Education’s permanent base of financial strength. Endowed funds are an essential source of funding for nonprofit organizations like IMSA. The story behind the most significant and lasting institutions usually includes not only a visionary idea, successful programs and a passionate community, but also a strong endowment.
An endowment is a permanent base of funds that yield investment returns every year. By limiting itself to only spending a portion of the returns and none of the principal, an organization can maintain and grow its endowment (even accounting for inflation) while enjoying a reliable stream of funding. When donors give to endowment, they create a permanent legacy of support for an organization and the people it serves. Endowed gifts to IMSA today will create opportunities for today’s students, as well as their children and grandchildren.
Endowment gifts are often made through a provision in one’s Will, or a trust, annuity, or other form of tax advantageous giving. Real estate, life insurance, IRAs, and of course cash, are other forms of endowment gifts.
IMSA’s general endowment will protect IMSA and its students from economic hardship, providing evergreen funding through good years and bad. This is particularly important for organizations like IMSA that rely significantly on uncertain state funding.
IMSA currently has three specific endowed funds established within the overall Endowment Fund. Each serves a different but much needed purpose. They are the Stephanie Pace Marshall Endowed Fund to Advance Innovation and Entrepreneurship, the Eric McLaren Endowed Fund for Integrative Learning and Ethical Leadership and the TALENT Endowed Fund for students interested in learning how to develop a product or invention and eventually start their own business.
Others specific endowed funds can be created with a beginning gift of $20,000 or more. The earnings each year (approximately 4%), would be used to support various areas of importance to IMSA and the students. Examples of endowed funds that would benefit IMSA include:
*FUSION Endowed Fund – a STEM extension program helping teachers and students across Illinois
*Energy Center Endowed Fund - IMSA’s program working with students to develop energy solutions
*E-Learning Endowed Fund - IMSA’s initiative to spread its example beyond the main campus
Like the vision of IMSA’s founders, the endowment will grow in value and significance for generations of students, faculty, families and communities. State funding will never be guaranteed. Economic conditions will fluctuate. Knowledge and education will evolve, bringing new opportunities and funding needs. Through all the unforeseeable changes to come, IMSA will rely on two foundational strengths: its mission and its endowment.
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