The Albany Public Schools Foundation manages over $2.4 million in endowed funds that have been established through bequests, memorials, or as part of a living legacy in support of students in Albany. While most endowed funds are created to provide scholarships for graduating seniors, a donor may choose other criteria for their endowment with the Foundation. Primary needs include but are not limited to: scholarships, student assistance (low-income), suicide prevention, and K-12 enrichment opportunities.
An endowed fund is an invested pool of money which earns income that the Albany Public Schools Foundation can use to further its mission of supporting Albany students. As the donor, you choose the purpose of your endowed fund. The Foundation manages the fund and is the vehicle through which your passion for helping kids is realized.
Decide the Type and Purpose of Your Fund
As the donor, you may designate your fund for a named scholarship, specific Foundation program, or for use where the need is greatest.
Determine When and How Much to Give
You can establish a fund either with a direct contribution during your lifetime, through a legacy gift, or both. A minimum initial gift of $25,000 in cash, appreciated securities, or other real property is needed to endow a fund, but you may start with a smaller amount and make plans to grow it into an endowment over a five-year period.
Fund distribution example: APSF bases its fund distribution on a 36-month rolling average of the fair market value of the fund. For example: A mature endowed fund of $50,000, at a 4% distribution rate, would grant or award $2000 annually based on investment income. New endowments typically take a few years to generate enough investment income for distribution.
Name Your Fund
Many donors choose to name their fund with their or their family’s name or as a memorial to a loved one. If you wish to remain anonymous, we suggest you select a name that reflects your fund’s charitable interest. We will protect your identity, if you so choose.
It’s That Simple
Once you complete and sign your fund agreement, we will begin to serve your charitable objectives, assuring that your wishes will be met in perpetuity. We will send you fund activity reports annually (or more often) to help you keep track of your charitable fund and the grants or scholarships made from it.
Contact us today to get started on your endowed fund!
Information for your Financial Advisor
Securities Transfers to Albany Public Schools Foundation
DTC Number: 0057
Account Number: 8680307611
Taxpayer ID Number: 93-0881300
Our Broker: Edward Jones, Christopher Scariano, 800-253-2365
If you don’t have the minimum $25,000 you can set up a Pre-Endowment account and save towards $25,000. Contact us to find out how.
This scholarship is awarded to a graduate of West Albany High School with an accumulated GPA of at least 3.5.
Funds water safety for all 3rd and 4th grade GAPS students.
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