The endowment is like a trust fund. Stetson's Board of Trustees' Investment Committee oversees the fund, ensuring that it is invested prudently enough for safety and growth, and wisely enough to provide reasonable income. The fund grew slowly but steadily for many years, although it dropped with the Depression that followed the October 1929 stock market crash. In the past 10 years, Stetson's endowment has increased more than fivefold under the leadership of President Doug Lee. A portion of its income is available each year to support scholarships, faculty salaries, and academic programs.
Endowment funds come from a variety of sources.
Endowment funds can also be channeled through a trust. Donors of more limited means who want to give to the endowment can contribute to already existing endowed funds, such as the John L. Pelham Ministerial Scholarship Fund or the Earl Joiner Endowed Chair of Religion Fund. Alumni and friends often choose that option in order to honor the person for whom the endowment is named. Endowment funds are a more predictable source of financing the essential needs of the university than tuition dollars or annual fund donations. All three are important, but the endowment allows us to plan more effectively, because we can count on that money being there.