AN ENDOWED FUND ALLOWS DONORS TO FUND A CAUSE IN PERPETUITY
The Mahtomedi Area Educational Foundation (MAEF) manages endowed funds created by individuals, families, community groups and the MAEF Board of Trustees. Endowed funds require a one-time donation that is managed and held by MAEF. Donors lay out their wishes in a fund agreement, and MAEF manages and disburses funds in accordance with these wishes.
ENDOWED FUNDS ARE PROFESSIONALLY MANAGED WITH EARNINGS USED TO FUND THE DONOR INTENT
Because MAEF leverages the expertise of local financial experts that volunteer their time and expertise, we are able to maintain very low fund fees. In turn, more earnings are available to be disbursed in accordance with donor wishes.
Start your endowed fund today! Contact us to learn more: firstname.lastname@example.org or 651-407-2016
The amount required to endow a fund depends upon how much income you would like the fund to generate each year. We can safely expect a $25,000 endowment to generate an average of $1,000 income each year. Thus, a donor wishing to endow a $1,000 student scholarship in perpetuity would wish to make an initial deposit of $25,000.
In order to meet donor goals, MAEF will not create an endowed fund with less than a $25,000 deposit. However, we will gladly accept a funding plan with a donor that wishes to make deposits over a period of time to reach the $25,000 balance.
Donors with less than $25,000 to invest or pledge may wish to consider a contribution to one of our restricted funds. These funds are described below. Or, contact us to discuss your goals and learn about opportunities: email@example.com or 651-407-2016.
FUNDS CREATED BY THE MAEF BOARD WITH MULTIPLE COMMUNITY SUPPORTERS:
- Angel Fund, a fund with multiple supporters that funds programs meeting basic needs of students in Mahtomedi Public Schools
- Engineering Leadership Fund, a fund with multiple supporters that benefits the Mahtomedi Public Schools Engineering Leadership Program
- MAEF Tapestry Scholarship, a scholarship fund to support Mahtomedi High School Seniors pursuing a post-secondary education. Donors of $500 or more will have their name or the name of a loved one listed in the scholarship program.
- Wildwood Artist Series Fund, a fund with multiple supporters that benefits the work of the Wildwood Artist Series' performances, school residencies, and student scholarship programs
- Zephyr Legacy Fund, a fund with multiple supporters that benefits on-going operational support of the Mahtomedi Area Educational Foundation
FUNDS CREATED BY PRIVATE PARTIES (* indicates that the fund is open to public support):
- American Legion Scholarship Fund, created by the Kramer-Berg American Legion Post 507 to provide annual scholarships to numerous graduating seniors
- Ron B. Appleman Memorial Scholarship Fund, created by the Appleman family to provide an annual scholarship to a graduating senior
- Ruth J. Bruggeman Scholarship Fund, created by Ruth, and her husband, William to provide an annual scholarship to a graduating senior
- James J. Connolly Memorial Scholarship Fund*, created by the Connolly family to provide an annual scholarship to a graduating senior
- Carole Fargo Summer Fine Arts Scholarships Fund* created to provide annual scholarships to students in grades K - 11 wishing to pursue a summer fine arts experience
- Stan and Doris Hill Outreach Scholarship Fund, created by the Hill family to provide an annual scholarship to a junior with a history of exemplary community service
- MAEF Community and Technical Scholarship Fund, created by the Olson family to provide an annual scholarship of $1,000 to a graduating senior intending to pursue a degree in a career and technical education field
- Mahtomedi Area Green Initiative (MAGI) Environmental Leadership Award* created by friends and members of MAGI to provide an annual scholarship to a graduating senior intending to pursue a career in environmental studies
- Mahtomedi Area Green Initiative (MAGI) Fund*, created by friends and members of MAGI to fund programming that supports their mission
- Oliver's Fund*, a fund with multiple supporters that supports programs that increase awareness of issues around suicide and depression and promote mental wellness for students in Mahtomedi Public Schools
- Dr. Kusem Saxena Scholarship Fund, created in memory of Kusem Saxena to provide an annual scholarship to a graduating female that has shown extraordinary achievement in math and science
- George and Laura Smith Teamwork Scholarship Fund, created by George and Laura Smith to honor a graduating senior member of the Zephyr football team that shows leadership skills on and off the field
- Kelly L. Spaulding Memorial Fine Arts Scholarship Fund*, created in memory of former teacher, Kelly Spaulding to provide an annual scholarship to a graduating senior pursuing a degree in the arts
- Wildwood Lions Club Vocational and Technical Scholarship Fund, created by the Wildwood Lions Club to provide an annual scholarship to a graduating senior wishing to pursue a degree in a career and technical education field