Endowed Funds: The Gifts That Keep On Giving
An endowment is an investment in the future. When you use your charitable gift to establish an endowment, the gift is invested with two goals in mind: to make principal grow faster than inflation, and to provide spendable income for whatever specific purpose you have designated. The principal is never invaded, and any earnings over a certain amount – usually five percent – are channeled back into the fund to keep it healthy and growing. Well-managed endowments will generate income indefinitely. That fact makes them uniquely valuable to the University, and therefore especially attractive to donors who wish to leave a legacy at Pacific. Endowments can be established with a gift of $25,000 or more.
University of the Pacific is among the nation’s best when it comes to building and managing its long-term financial assets, according to a national study published in January, 2005. Over the last three fiscal years, Pacific’s endowment enjoyed an average rate of return of 12.1 percent per year, ranking the university as having the third-highest return rate among 553 institutions participating in the National Endowment Study.
The results were published on January 24, 2005 by the National Endowment Study, in a study conducted each year by the National Association of College and University Business Officers (NACUBO) and TIAA-CREF, a leading financial services organization.
During the same period, the average rate of return of endowments at other colleges and universities was an average of negative 2.4 percent annually. The identities of the other institutions are confidential.
As of Dec. 31, 2004, the University’s endowment stood at $163.4 million. The funds are managed under the guidance of a six-member committee of Regents, chaired by 1962 graduate Kirk Bowman of Healdsburg, California.
In this Campaign, we are seeking $83.3 million in additional endowment funds. With these funds, Pacific will expand its already generous scholarship support. Pacific will recruit and retain superior faculty through newly created endowed chairs and professorships. Pacific will endow current programs of excellence and will provide funding for new and innovative initiatives.
Each school will receive a specific portion of the endowment goal:
How to Invest in The Campaign for Pacific
Pacific invites you to participate in The Pacific Fund . Your support will make a difference to students for years to come.