A new designated endowment fund has been started at the Morton Community Foundation (MCF)to support the MHS Science Department. The fund will eventually make annual distributions to Morton School District 709 to assist in supporting its MHS Science programs by supporting the purchase of equipment; defraying the costs of participating in science related activities, competitions, etc.; and other science related activities or purchases.
MHS Science Department Head, Mr. Scott Lynn personally invested his time and financial support to help get the new fund started. “I’m excited to see that Morton High School’s Science Department will have a permanent source of revenue to supplement our annual district budget. We often have needs or requests that are above and beyond what the District can support, but that would be helpful in communicating the concepts of science in the classroom. This will allow us to consider funding some of these additional items through the MHS Science Department Endowment Fund at the Morton Community Foundation,” Lynn said.
Endowed gifts provide a gift that lasts forever. For example, if someone donates $100 to the endowment, that $100 is never spent. Instead, it is invested; and the proceeds from the investments are used to provide grants for MHS Science programs for generations to come.
Scott Witzig, Executive Director of the Morton Community Foundation, is hopeful that this fund will grow with private contributions from people who support the importance of solid Science Education at the high school level as a basis for potential future study and/or career choice. “It was especially meaningful that Mr. Lynn, head of the MHS Science Department personally gave financially to permanently support this fund that means so much to him,“ Witzig said. Since this fund is now open, anyone in the community, individuals who are in science related careers, MHS Science Dept. alumni, etc., can make a contribution to this fund in any amount.
Although the minimum amount of funds needed to establish a designated endowment fund with the MCF is $10,000, donors don’t need this amount to open their fund. With the minimum start-up contribution of $1,000 the MHS Science Department Endowment Fund has been started… it now has up to ten years to reach the $10,000 minimum fund balance. When this fund reaches at least $10,000, the District will begin to receive annual grants to help cover the costs of things such as: equipment, materials, etc. The fund will grow as future donors, with a passion for Science, add to it, thus providing increasingly larger grants well into the future.
Organizations like our Morton School District look to the Morton Community Foundation to hold their organization’s endowment because they know that having a constant source of funding helps them respond to current needs as well as plan for the future and sustain the good work they do.
When donors or nonprofit organizations work through the Morton Community Foundation to achieve their charitable goals, they benefit from the expertise of experienced local program staff, community leadership, and investment management.
Click to Download Science Fund Flyer
Post a Comment