What is an Endowment?
Endowment funds are gifts from donors where the principal is not expended but rather invested for income-producing purposes. Investment results determine the portion of income that is available to be disbursed, thus, as an endowment grows, so do annual available monies. The term endowment is used to describe funds set aside for the long-term that will provide a permanent source of income. Therefore, when making donations to an endowment, you are making gifts toward the future which will have an impact on many generations to come.
How do teachers receive money?
Each year teachers and other community members working with Westerly Public School students are given the opportunity to submit grant requests to the Endowment. The Endowment Board’s Grant Committee then selects the grants it feels will have the greatest impact and sustainability potential for students.
How much has the Endowment given away?
To date, the Endowment has provided over $190,000 to benefit the students of Westerly Public Schools. Additionally, we have over $500,000 in investments. Our goal is to grow these investments to $750,000 by our 15th anniversary in 2016. This will significantly increase the amount of funding which can be disbursed to grant recipients each year.