Understanding Endowment
Endowments are hot topics these days. In nearly every issue, The Chronicle of Philanthropy describes multimillion-dollar gifts to the endowments of some of the largest and most powerful charitable organizations, especially universities and hospital systems. But many organizations are not included in this outpouring of largess. And often the executive directors and board members of nonprofit organizations are confused about the hoopla about endowments. Unfortunately, these leaders do not perceive that endowment building is possible—or even desirable—for their organizations.