Some funds provide scholarships while other funds support a variety of types of awards. An endowed gift keeps giving over time and encourages a continuing interest on the part of the donor. At PSC, donors are sent annual updates on how their gifts support PSC s students and faculty. They also receive a yearly report on the financial growth of their fund. Endowment supporters are offered opportunities to meet the students and faculty at PSC that benefit from their gifts.
Endowments can honor or memorialize someone important to the donor.
An endowment may be created to honor an individual who has deeply affected the donor s life, while others establish a fund to memorialize a family member or someone who was an important member of the PSC community of learners. Endowments link a donor s interests with a program, department or function of the college. For example, one fund supports scholarships for students who meet a certain profile, another fund provides a source for acquiring books for the library, and a third fund provides money to purchase campus plantings. Endowments provide stability. Since the principal is not spent, an endowment generates earnings year after year.