Creating a Named Endowment Fund is one of the easier ways to make a significant, positive, and permanent impact on the SJP students of today and tomorrow. A Named Fund is a permanent endowment (the principal is never spent) of $25,000 or more, and the donor is given the honor of naming the fund. The fund can be established with a pledge and then completed with payments over a period of time or with proceeds from an estate. Company matching gift programs can also be used to help complete a fund.
Named Endowment Funds can be created with cash, gifts of stock or other real property, real estate, assets from an IRA, 401 (k), or insurance policy, testamentary gifts, beneficiary designations, trusts, or almost any kind of asset. A Named Fund can be created now and funded later with proceeds from an estate.
There are currently 63 permanent, named funds already established at the Prep School. Earnings from these funds are used for scholarships and other donor-directed purposes. Scroll down for a PDF of the full list of scholarships. Listed here are just a few examples of permanent legacies already established at the Prep School:
The Mary Smith Scholarship for Girls
Current value of $122,578; created by Julius Smith '48 and added to by some of his children. This scholarship honors and remembers Jules' beloved wife while providing need-based scholarships to girls in the SJP residence program. Jules and Mary both served as SJP Regents in the 1970s and 1980s. Jules was SJP's first Armor of Light honoree.
The SJP Alumni/ae Association Scholarships
The SJP Alumni/ae Association established a fund that totals $223,031 with a yield of $9,125 benefiting children of alumni/ae who are enrolled at the Prep School.
The Carl Dorenkemper '25 Bequest
Carl Dorenkemper, a distinguished alumnus and Armor of Light Honoree, provided a $219,000 bequest to the school. The gift helped provide new windows and a new roof.
The Fr. Germain Loeber, OSB Scholarship
A group of alums from the late 1950s and early 1960s, chaired by John Hoffman '58, established this fund that has a current value of $34,431. A scholarship of $1,455 was provided to a student currently enrolled. Its purpose is to honor and remember Fr. Germain who was a major influence in the lives of dozens of Prep School alumni.
The McDowall Family Scholarship
Started by George & Betty McDowall and added to by other family members, the fund has a total value of $61,171 and yielded $2,579 last year for scholarships.
Anonymous $100,000 Scholarship
Legacies can be established anonymously, as this one was. The initial gift was made with appreciated stock, giving the donors several tax advantages.
Your Name or Fund Here
What will you do to establish a legacy at the Prep School? It doesn't take a large amount of money and it might save you considerable income and estate taxes.
Fact
The Prep School depends on income from its endowment for need-based scholarships and for other donor-designated purposes. Our endowment must grow so that talented and motivated students will continue to be inspired to great achievements at SJP.
