Endowment dollars supply a dependable source of income, which gives Canisius the freedom to plan for the future, and provide students and faculty with rich academic experiences.
An endowment is an institution's invested capital which generates funds to be used, in perpetuity, to support the institution. The funds in the college's endowment are invested under the direction of the Canisius College Board of Trustees. The college's general policy is to diversify between equity and debt to provide a balance to enhance total return while avoiding undue risk. Each year, approximately five percent of the fund's market value is awarded to deserving Canisius students or designated to specific programs or purposes.
The remainder of the fund's total earnings for the year is reinvested in the fund, allowing it to grow over time and generate increased income in the future. Endowment income provides a hedge against downturns in the economy, federal and state budget cuts, fluctuations in the political climate, and other changes.
Unrestricted endowment earnings support the general operating budget. Other endowment funds support scholarships as well as endowed professorships, chairs, or academic programs, as specified by the donor. An endowed scholarship will last in perpetuity at Canisius College and benefit students for generations to come.
An individual or organization can create a permanent scholarship fund at Canisius College with a minimum contribution of $25,000. Many benefactors who provide consistent, generous gifts to the college would like to create an endowment at Canisius but, for various reasons, they find the minimum endowment levels unattainable. Or, they hope to someday create an endowment through their estate, although they would prefer to see their endowment at work during their lifetime.
The Development Office will work with you to create a larger endowment than you might have thought possible, at a much lower cost. Your gifts are invested by the college until the minimum goal of $25,000 is reached - then your endowment begins to work. The program is designed so that the endowment you create is likely to be activated during your lifetime.
For more information on endowments, contact Marion Mittler, director of donor relations & special events, at 716-888-8217 or mittlerm@canisius.edu.