Endowmentsssssss

I have to say. This has been a really great internship. I’ve gotten to get involved in a lot of different projects, helped out with events, and taken on responsiblity for projects that really have a great impact on the museum and development. I’m currently finishing up some projects before the semester ends. Currently, working from this MASSIVE spreadsheet of bequests, life insurance policies, Charitable Remainder Trusts, Charitable Annuity Trusts, IRAs, etc. etc. etc. Anyway, the purpose of the sheet is to determine how many of them are meant for the Endowment. You may remember mentioning that I was working on this wayyyyy back when I first started. I’ve been entering a lot of data in the TA Database and its kind of taken a little while. If you don’t already know, Endowments are really important to non-profit organizations such as museums, opera companies, theater groups, and even private schools (such as American University). They are typically restricted funds whose interest grows from the principal donation. Over time, the endowment grows and grows and can finally be used for new programming, improvements or whatever. However, the principal amount cannot be spent, only the interest. It’s a little complicated, but basically its a nest egg that can be broken into for purposes  just in case! The USHMM is also starting a new campaign to really push people to make their donations for the endowment. While some people do, majority do not specify this or make their donation very restricted and have a clear purpose for how the museum spends their money. Anyway, it has been fun going through the database and entering all this information. Some might think its tedious and boring, but I like it!!

Advertisements