An endowment is a fund set up for a specific long term purpose, where the principal gift remains in perpetuity, with a set portion of the earnings spent each year according to the charitable interest of the donor. Donors can establish endowment funds at Pattie A. Clay Foundation for a wide variety of purposes including scholarships; capital equipment purchases; or support for a particular department or area of care. Giving to establish an endowment is an excellent way to assure that your gift has a long term impact on the hospital in a particular area or service that you are most interested in.
Named endowments may be established with an initial minimum contribution of $100,000.
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Remember, there are always details to consider which pertain to your particular situation. Therefore, it is wise to consult your accountant or attorney for additional information and restrictions on the tax consequences of any charitable contribution.