Endowment Giving

Endowments for the Foodbank

Establishment of a permanent endowment with the Eastern Illinois Foodbank is a unique privilege of honor to provide perpetual funding for a valued purpose - and assure an ongoing stream of funding to feed the hungry. Endowment funds are invested to provide continuing income for the explicit and stated purpose desired by the donor.

Income utilization is determined annually by the Board of Directors, normally in the 5% range. Earnings in excess of the approved utilization are credited to the endowment principal, enabling the funds to maintain and grow over time.

There are two types of Endowments for the Foodbank:

• Hunger Relief Endowment Fund

This fund has been established by Eastern Illinois Foodbank as the unrestricted portion of the Endowments. A gift to the Hunger Relief Endowment Fund enables the interests earnings to be set aside to support Warehouse Operations, including the procurement of food. This fund assures that there is stability in the provision of food for the hungry - in perpetuity - rather than such a heavy reliance on annual funding appeals.

• Named Endowment Funds

  This fund is restricted in that the donor decides exactly what the funds are to be used for at the Foodbank. A Named Endowment Fund may be established for a gift in the amount of a $20,000 threshold, with an initial minimum gift of $10,000 and the assurance pledge that the fund will grow to the threshold within five years.

  The donor may establish the name and may designate the particular use of the funds - e.g., FoodMobile, Rural Food Delivery, Nutritional Education, Fresh Food for Families, Allocation for a Partner Agency, Produce, Poultry, Food for Senior Adults.

  In actuality, the Named Endowment Fund can be configured in at least two different ways. Some people prefer to set a time frame within which the principal, as well as the accumulated interest earnings, will be spent on food for the hungry - for example, a 25-year window. Others prefer that only the interest earnings be spent, thus assuring that the fund lasts in perpetuity.

We would be honored to work with you, your family and financial advisors to assist in making an Endowment Gift or pledge to the Foodbank.