Endowments

Alumni and friends who make gifts for endowment build a strong foundation for the University of Washington School of Drama now and in the future.

What is an endowment?

An endowment is a permanent fund in which the principal is invested, and earnings are used to support the particular purpose for which the endowment was set up. Endowments are a wonderful way to ensure a long-term system of support for a scholarship or fund. They can be established at varying levels, starting from as little as $25,000 to $50,000 for scholarships and $1 million for funds such as endowed chairs or professorships.

Distributions from endowments support the purpose or program chosen by the donor. If you are interested in establishing an endowment in the School of Drama, contact Danny Geiger at (206) 221-6797 or dg3@u.washington.edu. He will assist you in structuring your gift so it is the most meaningful and rewarding for you and the School.

The Benefits of Endowments

Endowments are a long-term investment in the University that provide benefits to students and faculty year after year, generation after generation, because the gift principle is invested while only part of the income is spent. The stable base of resources this represents allows for a rich variety of activities such as scholarships and fellowships for talented students, support for distinguished and dedicated faculty members through professorships and chairs, and support for research that otherwise would not progress.

Types of Endowments

The University has established ten types of endowments whose purposes and minimum funding levels are briefly described below. The funding levels correspond to the amount of income needed annually to achieve the purpose selected by the donor.

General Endowment
$25,000
Unrestricted support for a department, program, school, college, or the University.

Undergraduate Scholarship
$50,000
Tuition, books, fees, and other educational expenses.

Research Fund
$50,000
Faculty or graduate student support, materials and equipment, publication and other expenses.

Lectureship
$75,000
Travel and honoraria for speakers, costs for public lectures, and related expenses.

Graduate Fellowship
$100,000
Tuition, books, research and living expenses for graduate or professional students.

Faculty Fellowship
$100,000
Research and other support for a faculty member.

Visiting Professorship
$250,000
Travel, salary, and other support, including lectures or publication costs.

Professorship
$250,000*
Faculty salary supplement, research support, equipment, publication costs.

Endowment for Excellence
$500,000
Supports multiple purposes, designated by the donor, in a department or program.

Chair
$1,000,000*
Full or substantial portion of salary and related support for faculty member.

*Endowed professorships in engineering or medicine require $500,000 or more; endowed chairs in those fields require $1,500,000 or more.

The Consolidated Endowment Fund

Gifts for endowment are investment in the University's Consolidated Endowment Fund (CEF), which operates much like a mutual fund. While assets are invested in a common pool, each named endowment is assigned its own account (budget) number by the University to track growth in principal and distributions of income over time.

The CEF is a balanced fund consisting of stocks, bonds, and other assets. The University employs professional investment firms, each of which manages a portion of the CEF. The University's Board of Regents maintains full control over CEF investment policies and regularly evaluates the investment managers' performance.

The primary investment goal of the CEF is to maintain the purchasing power of its individual endowments over time. To achieve this, only a portion of the total investment return (income plus capital gain) on the CEF is distributed for use while the remaining portion is reinvested.

If you are interested in knowing more about the Consolidated Endowment Fund
(CEF), or viewing the University's annual endowment report or a quarterly
investment reports, please click on the following link: http://www.washington.edu/admin/treasury/office.

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