Endowments are permanent funds which are set aside either for a particular purpose or for the general needs of Menaul School. Endowments allow long-term growth of funds that ultimately provide scholarships and operating revenue from the interest accrued each year. Building the endowment ensures sustainability of financial aid efforts and provides an additional funding source separate from the annual operating budget.
WHAT YOU NEED TO KNOW ABOUT ENDOWMENTS
An endowment is a fund that is restricted. Only the interest from the fund can be spent, not the principal that anchors the endowment. Usually, only a portion of the interest or earnings from the endowment (typically 4%) are spent on an annual basis in order to assure that the original funds will grow over time. Professional money managers often oversee endowment funds, investing the money in stocks, bonds, and other instruments.
The minimum amount to start an endowment fund is $10,000.
ENDOWMENTS HELD BY THE ALBUQUERQUE COMMUNITY FOUNDATION
- The Gloria Griffin Mallory Endowment Fund for Teacher Development
Dr. Gloria Griffin Mallory provided Menaul School much needed stability and continuity by serving as interim Head of School during three very critical school years (2003-2006). A lifelong educator with many years of service in New Mexico, Dr. Mallory believes that the key to a quality education is a quality teacher. Her passion for excellence in the classroom led her to establish the Gloria Mallory Teacher Development Fund when she retired from Menaul School. Annual interest income from this fund goes to support the professional development of teachers.
- The Menaul School Endowment Fund
This endowment was established in 2007, with an initial gift of $50,000, interest income from the Menaul School Endowment Fund is used for the charitable, scientific or educational objectives of Menaul School.
- The Agnes Faggart Bussiere Memorial Fund for Menaul
The endowment was established in 2007, with an initial gift of $42,000. Agnes Faggart Bussiere, was a longtime resident of Albuquerque who retired as a physical therapist from the Veteran’s Hospital. Annual interest income from this fund goes to support science and education.
For more information about the Albuquerque Community Foundation Endowment Funds contact Mary Spring, Director of Advancement at Menaul School at 505-341-7230.
ENDOWMENTS HELD BY PRESBYTERIAN FOUNDATION/NEW COVENANT FUNDS
Numerous permanent funds are held by Presbyterian Foundation/New Covenant Funds for Menaul School. These funds were established by Menaul School alumni and friends to benefit Menaul School for years to come.
For more information about existing funds or to establish a new permanent fund, please contact Menaul School’s Foundation Ministry Relations Officer, Steven Wirth. Steven can be reached by phone at 888-860-3383 or email.
Learn more about Steven Wirth.