Gifts for immediate needs are vital and always welcome. But there is another way to support the university which while providing for immediate needs, also insures its future well-being. An endowment fund is established with cash, securities or other assets through an outright gift, or at death through an estate gift. In most cases, unless otherwise instructed by the donor, the fund is permanently restricted and only the income from the fund is spent, insuring that your gift will continue to make a difference in perpetuity.
The “spending rate” of the fund, or the portion of total return used for current needs, is determined by the investment committee of the OCU Board of Trustees. The rate is currently 5% of a three-year moving average. Careful consideration by the committee of the rate protects the endowment from a loss of purchasing power.
Specifying the Purpose of Your Gift
When you establish an endowment at Oklahoma City University, you decide how the funds will be used. For example, many donors choose to direct their endowments toward student scholarships or faculty chairs or professorships, sustain an on-going program, or provide a fund for changing areas of greatest need.
Others choose to endow their annual gift. As annual giving is the lifeblood of any non-profit organization, the ability to count on your gift each year makes it possible for us to carry out our mission. Yet when a donor dies, so do the individual’s annual gifts and a reliable source of income abruptly ends. Through an endowment designated for the annual fund, you can continue to support the university in a meaningful way even after your death.
The purpose of your endowment gift is up to you, but we do request that you consult with us in advance to make certain we will be capable of meeting the conditions of your gift. Generally, we will prepare an “Endowment Agreement” between you and OCU which specifies the terms of your gift. If you should change your mind about how you want the gift used, the agreement may be amended, but it does serve to insure your wishes are known and met, now and into the future.
Naming an Endowment Fund
By creating an endowment, you enable us to remember you or a loved one far into the future. Your contribution to our future needs is a wonderful way to allow us to honor and remember you or a person you loved or respected. Your gift becomes a lasting tribute and establishes a permanent link between the past and the future of Oklahoma City University.
If you are considering a memorial gift, please let us know. We will be happy to work with you.
Minimum Endowment Amount
A minimum gift of $10,000 is required to establish an endowment; however, this amount may be pledged and paid over a five-year period. All earnings are reinvested in the fund and no awards will be made until the fund reaches $10,000.
How to Get Started
Once you have decided to create an endowment, you can achieve your goal through several methods – the choice is yours. Please contact the Office of University Advancement and External Relations. Elizabeth Sheppard (firstname.lastname@example.org) can answer your questions and get you started – without obligation. Working with you and your financial advisors, we’ll help you determine if an endowment fund at Oklahoma City University meets your philanthropic goals.