Such re-designation of funds would be allowed only to the extent permitted by California law and the policies and procedures of Santa Rosa Junior College. For the purpose of investment, this fund may be combined with other funds of the Santa Rosa Junior College Foundation and administered according to the Santa Rosa Junior College Foundation policies and procedures. If in the future the Board of Directors of the Santa Rosa Junior College Foundation, in concert with the President and academic leadership of Santa Rosa Junior College, determines that the specific purposes for which this endowment was established no longer pertain or the programs benefiting from these funds no longer exist, the Board may designate that the funds be used for those purposes and programs at Santa Rosa Junior College which are most closely aligned with the original intent. Such re-designation of funds would be allowed only to the extent permitted by California law and the policies and procedures of Santa Rosa Junior College. The Benefits of an Endowment Many donors find that their philanthropic wishes can be met by establishing an endowment through the Santa Rosa Junior College Foundation .
Endowments are permanent funds from which only the income is used.
The annual investment income, or interest, is used for the purpose designated by the donor. Additional gifts may be made to the fund to increase the principal and thereby increase the annual investment income. Endowments represent rewarding gift opportunities because they offer the donor the satisfaction of knowing that his or her gift will continue working for future generations. How an Endowment is Established The endowed fund may be established with a contribution in the form of cash, appreciated securities, or other charitable gifts such as a bequest. The fund is invested by the Santa Rosa Junior College Foundation, which serves as a steward of the endowed funds.