What is Endowment Giving?
Major gifts to a fund established to take pressure off the Mosaic’s operating budget is considered Endowment giving. Endowment principal remains intact as the School only spends a percentage of the interest income. In the independent school community, long-established boarding schools with strong alumni donor bases tend to have larger endowments than day schools, though most day schools like Mosaic are working hard to increase their Endowments.
The practical equivalent of an Endowment is a savings account. Most schools have a policy about how much endowment income they’ll spend each year so they don’t invade the principal. At Mosaic, up to 5% of our Endowment can be spent each year. Mosaic’s Endowment provides the School with the security to invest in faculty compensation or new faculty positions (often called endowed chairs), fund for professional development, enriched academic programs and resources, and financial aid. One example of an endowed fund would be Faculty Professional Development. Up to 5% of the endowment’s income is used to provide continuing education opportunities for our faculty each year.
The financial assets in the Endowment are managed by the School’s Foundation Board.
How can I make a gift?
You can support Mosaic School by making a gift of cash, appreciated assets, or bequests. To make a gift today, please call Mosaic’s Main Office at 1-888-793-8826. To make a gift online, go to our secure online gift form.