Endowments are funds that are restricted to specific purposes and are spent in such a way that the principal investment remains intact. Essentially, endowments support their designated purposes in perpetuity.
Endowment funds through the Indiana 4-H Foundation are held and invested by the Purdue Research Foundation through a special agreement with the Foundation. This allows us to receive the best return on investments. Working with the Purdue Research Foundation, the Indiana 4-H Foundation can help you or your organization establish an endowment to support the Indiana 4-H Foundation or the Indiana 4-H program of your choice.
An endowment gift of $25,000 will provide funding for a $1,000 per year scholarship. There is a $25,000 minimum* to establish an endowment with the Foundation. Endowments can be restricted to a county or multiple counties. The ultimate goal is to ensure endowments are broad enough to include programs or scholarships for the future, so it will be awarded in perpetuity.
We have a Statewide Indiana 4-H Scholarship Committee that selects scholarship recipients from applications submitted in January of each year. They are reviewed by the committee of 4-H Educators in February and then interviews are conducted in March.
The Foundation currently has $641,000 invested in 23 endowments for scholarships and programs. We give out over $120,000 in scholarships each year to approximately 250 4-H youth. In 2016, we had 946 scholarship applications.
Read more about the experience of creating an endowment here.
Please contact Shelly Bingle, Executive Director of the Foundation, if you are interested in establishing an endowment.
*Endowments can be completed as cash gifts over five years or established as a part of planned gift.