What is an endowment?
Endowments are funds that are invested in perpetuity and the interest earnings are used to fund various programs or scholarships. An endowment is a way for people who love the mission of GCA to make a lasting difference in the future of GCA. It is an opportunity to invest assets to permanently support a program that is close to your heart.
Why are endowments important?
Endowment funds allow you to help provide a predictable, steady source of income for GCA now and for the future. They assure that the good work you believe in will continue into the future
What potential opportunities for funding endowments are available?
GCA is looking to establish additional endowments for student scholarships that could be either need-based or merit-based. There is also a need for the endowment of extracurricular programs such as athletics or music, spiritual life programs such as mission trip funds, academic programs that may be of interest to donors, or endowments to enhance various administrative or student life positions or programs within the school.
What does it take to set up an endowment fund?
The gift amount required to establish a named endowment fund might vary, depending on the fund’s purpose and financial needs of the program being funded. In general, a named endowment fund must reach a minimum of $25,000 before it can be recognized and used as an endowment.
What type of donor might be interested in giving to endowments?
Families and individuals establish or give to endowments when they want to experience the joy of knowing their support will continue into the future. If you love and support GCA and want to ensure that this ministry remains strong in years to come, endowment giving may be a perfect match for you.
Scholarship funds are a great way to invest in GCA students with specific criteria that can match your passions or interests with GCA’s needs. When you set up a scholarship fund, you can invest in our students and make it possible for them to be at GCA where they can grow academically, spiritually, and socially.
Scholarship funds are generally funded on an annual basis with one-time or multi-time giving. In most situations, the scholarship monies are used up in a given school year and are then replaced by the donor each year. Scholarship funds can range in size from $1,000 and up.
Scholarships can be set up to target specific types of students and can be merit-based or need-based. We offer music scholarships, leadership scholarships, worthy student scholarships, memorial scholarships, academic scholarships, and many others. Scholarships are usually named by the donor.
Non-monetary gifts may be donated to GCA. These gifts should be of the type that will be helpful to the school and should be in good condition. Examples of gifts-in-kind could be office furniture, landscape materials, library books, artwork, or musical instruments.