Endowments & Named Funds
You can endow a department chair, a clinical program, or a community benefit service to create a permanent funding source. (Due to the costs of administering an endowment, the minimum amount is $500,000.)
The entire amount of your gift remains intact:
- Income from the endowment benefits the program or service that you designate
- An endowment can be named in your honor or for a loved one
- Create stability and sustain financial integrity
- Attract leading physicians to the Palo Alto Medical Foundation
- Provide inspiration and encourage additional philanthropy
- Current gifts
- Estate gifts
- A combination of the above
Like an endowment, a named fund can be set up to support a program of service that is dear to your heart. Special purpose funds can also be named and funded similarly to an endowment. However, these funds are used as needed rather than being held indefinitely. The minimum amount to get started is $25,000.
Definition: A financial endowment is a transfer of money and/or property donated to an institution. An endowment may come with stipulations regarding its usage. In some circumstances an endowment may be required to be spent in a certain way or alternatively invested, with the principal to remain intact in perpetuity or for a defined time period. This allows for the donation to have an impact over a longer period of time than if it were spent all at once.
For more information, call 650-853-4808 to speak with a gift officer.