Named Endowed Funds
The KML Foundation manages a number of named endowed funds which are uniquely designed to benefit KML students and graduates. These funds are growing in popularity, but many people are still not aware of them, or how they work.
An endowed fund is simply a fund that invests money, and then makes annual distributions from the investments. A named endowed fund is established by a person, family or group, and makes distributions for specific purposes. Here are a few examples of KML Foundation’s named endowed funds:
Basler Ministerial – grants scholarships to KML graduates going to MLC
Walter and Mary Alice Rathke Memorial Fund – supports KML student assistance
Wayne and Renee Baxmann KML Scholarship – grant to KML freshman for tuition assistance
E.H. Wolf & Sons – two separate funds – one for KML student assistance and one for graduates going to a technical college
Russ and Nancy Geiger Scholarship – supports KML graduates going to MLC
All together, we currently have 15 named endowed funds with more than $1.1 million in assets, and those numbers keep growing.
Setting up a named endowed fund is quite simple. Here are a few guidelines:
A fund can be created by an individual, a family or a special group like an alumni class, group of friends, or a business
A target for the distributions should be determined at the time of establishing the fund
A fund can be created with any amount of money, and additional gifts can be given at any time
Annual distributions from the fund will be made when the fund exceeds $10,000
Some of our funds were created with gifts of more than $10,000, while others were funded with smaller gifts over a few years. The KML Foundation is flexible in working with donors to ensure the process is easy and results are able to accomplish our goals.
To learn more or discuss the options for creating your own named endowed fund, contact Paul at email@example.com or 262-677-4051.