Power of Endowment
Each endowment fund is a lasting charitable legacy. Each endowment fund is invested for long-term growth. A portion of the fund is paid out each year for the specific charitable purpose. The expectation is that over time disbursements from the endowment fund will exceed the original gift and the fund balance will continue to grow.
The Langford Scholarship Fund, an endowed scholarship fund, was established by Ken and Pat Langford in 1991 with a tax-deductible donation of $100,000. By 2014 the Fund had paid out a total of $155,500 in scholarships and the balance in the Fund had grown to $138,500. In 2015, another significant donation was made in order to increase the amount of each future scholarship awarded from the Fund.