ENDOWMENT GROWTH & GIVING
For the first time in history, in January 2013 the CVA endowment reached the $1 million mark. But we're just getting started...
At Carrabassett Valley Academy, strengthening the endowment is our top fiscal priority, as evidenced by its prominence in this phase of our New Campus Campaign. The endowment is the basis of CVA’s long-term financial strength and competitiveness. It allows CVA to attract and support top student athletes regardless of their financial circumstances, to hire and retain the best coaches and faculty, and to offer a world-class academic program.
An academic endowment operates much like any savings and investment portfolio. The principal gets invested and grows over time, and each year the school spends a small percentage of the endowment to support scholarships and general operating expenses. But in order to keep up with a changing world, the endowment principal must continue to grow through donations.
Why are endowments important?
Since the capital cannot be used, the income generated from an endowment is an important source of revenue. Endowed funds create a foundation for fiscal growth and stability, while generating a reliable portion of income for scholarships, athletic programs, and academic initiatives.
Endowments also represent the understanding that schools like CVA are worthy of investment by individuals and organizations who care deeply about preparing our next generation of scholar athletes.
Making a Gift To Forge Our Future
An endowment fund can be designated for a specific purpose, such as scholarships. The gift to create an endowment fund can be made from cash, stock, life insurance, real estate or other assets. The gift is invested and only the earnings from the gift are used each year for the purpose designated by the donor. The minimum gift to create a new endowed fund at CVA is $25,000, payable either gift as an outright $25,000 gift or through signed pledge payments over 5 years.
For more information on endowments and estate gifts, please contact Kate O’Halloran, the Director of Development and Alumni Connections at 207.237.4498 or e-mail her at email@example.com