Increasing the University Endowment is one of the most important things we can do for the long-term and short-term well being of the Mount. Currently, the University’s endowment is valued at $42 million, and we hope to add $10 million to our endowment’s value in new gifts and pledges in the coming years.
An endowment provides long-time security and annual income for an institution. It is like a savings account that is never spent. The principal is invested, and the income is used as part of the University’s annual budget or to fund specific needs.
Gifts to the Endowment
Unrestricted gifts to the endowment are essential because the income may be used at the discretion of the University President and Board of Trustees to meet the University’s most pressing needs. Unrestricted endowment income can also ensure that we have the funds to be forward-thinking and stay at the forefront of Catholic higher education. Gifts of all sizes may be made to help grow the University’s unrestricted endowment.
Restricted gifts to the endowment allow us to other priorities within the University. The income from these endowment gifts is used as the donor specifies. Donors may choose to establish endowments to fund scholarships, lecture series, professorships, department chairs, academic awards, and more, all of which may be created in a donor’s name.
The most common endowment established is a named scholarship endowment which is awarded based on a set of criteria mutually agreed upon by the donor and the University. Named scholarship endowments begin with a minimum gift of $50,000.
To learn more about establishing a named scholarship endowment email Frank Sneeringer, Director of Development, or call (301) 447-5361 and he will be happy to work with you personally.