Vice President for Development and Planned Giving
Mandi Adams '17 with Dr. George Kalf.
An endowed gift is a lasting and personal way to make a difference in the lives of Bay Path students.
The vast majority of our students depend on financial aid to achieve their dreams of a college education. Endowed programs help turn those dreams into reality.
These gifts also reflect a commitment to the future of Bay Path. By establishing an endowed fund, a donor ensures that their own values and legacy become a permanent part of the University's success. Many donors choose to honor family members, friends, or a favorite professor with the lasting tribute of an endowed gift. These are individuals whose faith in the University is unwavering. They know that Bay Path always has and always will be a place that deeply supports the needs of its students.
Endowments can be established through current gifts of cash, stock, real estate, or through planned gifts such as charitable trusts, charitable gift annuities, life insurance, or bequests. A fund can be endowed with a gift of $25,000 or more. The University's endowment program provides assurance that contributions from friends of Bay Path will be managed professionally. The policy for determining the amount of distribution is set by the Investment Committee of the Board of Trustees and the current spending rule allows for spending (net of all investment expense) 4% of a twelve-quarter moving average market value of the endowment. The spending rate is applied to each endowment fund annually as of December 31st to arrive at an overall endowment spending budget for the following year.
An endowment is a gift that is invested and held in perpetuity. The return on the investment provides a constant source of income for the activities designated by the donor, and endowed scholarships at Bay Path help maintain the institution’s financial strength.
Recipients of endowed scholarships write annually to their donors expressing thanks, and, in many cases, establish a continuing relationship. These students, during their college years, come to understand the importance of donors who help make higher education possible. In doing so, they learn about the transformative power of philanthropy. Many are inspired to help new generations of students in the same way.
If you have questions or you are interested in establishing an endowed scholarship please contact Allison Gearing-Kalill at 413.565.1150.