Endowment Funds
An endowment fund can be established with a gift of $5,000 or more. This can be a gift of cash and/or stock. Donors have the option to name the endowment fund, and can determine how the annual income from their fund will be used. Most endowment donors elect to not select a designation for their annual income, directing their annual income to the highest priority need area of the agency, as determined by the board of directors.
Once a donor has made a gift to establish an endowment fund a formal resolution accepting this fund is voted and approved by the Berea Children's Home & Family Services Board of Directors. This gives donors assurance that the endowment fund is permanent and has been formally accepted by the Board of Directors. Upon being named permanent, donors become members of the Legacy Society as well.
