An endowed gift funds all or part of a program or scholar’s work. The initial funding for each of our endowments has come from individuals or institutions who typically designate gifts for a specific policy area. We also maintain a fiscally prudent practice of allocating fifty percent of all estate gifts to a permanent fund. Earnings from these invested assets are used to support our programs.
Currently, Heritage’s endowment investments total approximately $140 million; but that amount also includes operating reserve, building fund and other funds that are not available for current operations. If market losses result in investment returns that are less than planned, it has been Heritage’s policy not to drawdown income in order to keep the corpus of the gift intact.
The Investment Committee of Heritage’s Board of Trustees provides oversight for our investment policy and we employ an independent investment consulting firm to assist in complying with the policy.
What are the benefits of endowments?
- Endowments strengthen The Heritage Foundation by providing stability and the ability to plan.
- They continue to grow to offer support to Heritage in perpetuity.
- They create a legacy and offer you the knowledge that an important concern will continue to be addressed well beyond your lifetime.
- They can provide you with tax and estate planning benefits.