Endowment
Saints Stephen’s is committed to growing its endowment. The purpose of the endowment is to generate steady, annual income that can be used today, next year or even 100 years from now. With a larger endowment, Saint Stephen’s is better prepared when faced with economic cycles and equipped with additional resources to attract and retain the best faculty and student body.
Overseen by the Endowment Board, the endowment acts much like a family savings account. When a donor makes a gift to the endowment, the money is placed in the Endowment Fund that earns interest. The earned interest is then allocated to the school to support scholarship, professional development, academic programming, and various other needs that fall within the mission of advancing Saint Stephen’s. The Endowment Trustees employ a strict spending policy which preserves the size of the endowment for future use. The principal of the endowment is never touched, which allows all gifts to the endowment to continue in perpetuity and to grow year after year.
Unrestricted gifts to the endowment may be made at any gift level and give the Head of School the flexibility to allocate funds to meet the greatest, most pressing needs. Donors may also name their own Endowment Fund restricted for a specific purpose such as scholarship, professional development, or another area of interest. All gifts to the endowment, regardless of the amount, are extremely important and all gifts have a lasting impact by strengthening the financial stability of the School.
List of current Endowed Funds:
- EE Ford Foundation Diverse Scholarship Fund
- Leach Scholarship Fund
- William K. Frye Memorial Scholarship Fund
- Goergen Scholarship Fund
- Hoenle Scholarship Fund
- Sheffler Scholarship Fund
- Mandy Stoll Scholarship Fund
- Rev. Dr. Benton Wood Scholarship Fund
- Turner Family Fund
- Faculty Tribute Fund
Endowment Board of Trustees:
- Kaye Butler
- Rose Carlson
- Eugene Fogarty
- Dora Thomas
- Cliff Walters
For more information about Saint Stephen’s Endowment, please contact Dannie Sherrill, Director of Endowment. (941) 746-2121 ext. 116
