Commentary: Power of endowed funds is slow and steady
Nearly 200 years ago, landowner Col. Benjamin Potter of Milford left the bulk of his wealth to the economically underprivileged in Kent County. Having grown since 1843, the endowed Potter Charity Trust is forever investing in the area — incrementally distributing financial support each year.
Through this thoughtful planning, Col. Benjamin Potter is still making a positive impact on people’s lives. Since 2012, the trust has issued 95 grants totaling $2.37 million to local charities and nonprofits.
One philanthropic decision made years ago created a legacy that is now one of the oldest existing trusts in Delaware. Could your philanthropic decision make you the next Col. Potter? It doesn’t take millions of dollars either — you might be surprised at how much impact your charitable gift can have.
The power of an endowment comes from thinking beyond immediate support. It’s a little bit like the story of the tortoise and the hare: Thoughtful decisions and steady investment over time make a huge difference.
What decisions could you make today that add up to a different future tomorrow?
Establishing an endowed fund ensures a truly long-lasting and permanent legacy — it is an investment in the future. As the fund grows each year, the generated interest fuels its philanthropic giving — keeping the original gift untouched. When discussing legacy charitable giving with your adviser, the Delaware Community Foundation is a great partner to include in the conversation. Our thoughtful philanthropic planning expertise will help you provide longtime financial security for causes you care about.
There is no one-size-fits-all philanthropic solution. Maybe you can’t set up a fund that benefits artists across the nation, but what about an endowed fund to help artists in your community? In that way, five years from now, 10 years from now and beyond, your gift will continue to make a difference.
That’s the permanent power of an endowed fund.
- Michael DiPaolo is the vice president for southern Delaware at the Delaware Community Foundation.
