Create a Named Endowment Fund

When you establish an endowment fund, you create a permanent legacy of support for the Heart of Virginia Council, Boy Scouts of America.

Endowment assets are invested, and each year, a portion of the value of the fund is paid out to support the fund’s purpose, and any earnings in excess of this distribution are used to build the fund’s market value. In this way, an endowment fund can grow and provide support for its designated purpose in perpetuity.

Q: How much money does it take to start an endowment?

A: The Heart of Virginia Council provides the opportunity for our supporters to create a named endowment fund.

To establish one, there is a minimum outright commitment level of $25,000. This amount can be paid over a period of up to 5 years.

If a donor has established a planned gift valued at $100,000 for the benefit of the council, then the minimum outright commitment level is $10,000. This amount can be paid over a period of up to 2 years.

Q: What else does it take?

A: An endowment agreement. This agreement between the donor and the Council permanently defines the purpose of the fund. The agreement also outlines the Heart of Virginia Council’s standard procedures for managing endowment funds.

Q: Whose name is on the endowment?

A: You can name an endowment for yourself, your family, your friend, your former scoutmaster or unit leader, your company – the choice is yours.

Your endowment will be recorded as “The [Name of Your Choice] Endowment Fund.”

Q: My lawyer knows about endowments. Can I have him/her prepare my endowment agreement?

A: The Heart of Virginia Council, BSA uses standard language for endowment agreements to ensure consistency in management of the funds. As we work with you to establish the endowment, we will discuss your preferences and suggestions with you.

Q: Do I need to sign an endowment agreement or meet a minimum gift level if I want to give to an existing endowment?

A: No. You can make a gift of any size to an existing endowment fund without signing an endowment agreement. There may be an existing endowment that reflects your interests and to which you can add your support.

Also, donors who have established an endowment fund in the past, may continue to make gifts to them over time. The larger a fund is, the more impact it can have each year.

Q: Exactly how is the spendable income used?

A: The spendable income from each endowment fund is used to support the fund’s direct costs, as well as a portion of indirect costs. Endowment distributions will be used to help meet the cost.

Distributions from scholarship endowments, for instance, generally fund full or partial high-adventure scholarship grants and support indirect costs associated with those grants.

Stewardship and Recognition

Q: How do I find out about my endowment after I have made my gift?

A: Once an endowment reaches the minimum funding level and starts generating spendable income, the Council will begin sending you annual reports detailing the value and use of your endowment fund. The purpose of the endowment will dictate the news updates that will be included in the stewardship reporting document. Campership and scholarships endowments will receive information on the recipient, a capital endowment may receive an update on some of the recent maintenance updates from the prior year, etc.

When you establish an endowment at the Heart of Virginia Council, you begin a new relationship with Heart of Virginia Council, and the Council will write to you—and later to your family—every year with an update on what your gift is making possible.

Q: Can I meet the Scouter who benefited from my campership or scholarship?

A: In most cases, yes it is possible. If you do not have an opportunity to meet your scouter at a camp event, the Heart of Virginia Council can arrange a visit for you during some other time during the year.