Make an Endowed Gift
Your gift to the Southern Maine Agency on Aging's endowment will ensure lasting support for the most pressing needs of older adults in southern Maine.
An endowment is a fund of money, the principal of which is held in perpetuity and invested, and from which SMAA may use only the return on the investment. Endowed gifts enable SMAA to remain a forward-looking organization, ready to weather economic downturns and meet its mission.
Gifts for endowment enable you to:
- Provide permanent funding for a favorite project or program
- Provide continuation of your annual giving
- Create a legacy for your family and the Agency
- Encourage the spirit of philanthropy in others
Donors who are considering a bequest and/or a planned gift to the Agency will be encouraged to restrict their gifts to its general endowment. Gifts of all sizes can be given to SMAA’s general endowment fund.
Continue your Annual Giving Through a Bequest to Endowment
Are you a loyal donor to the Southern Maine Aging on Aging? Did you know you can continue your annual giving by making a provision in your will to make a gift to SMAA’s endowment, the interest on which will be used to pay your gift to the Annual Fund into perpetuity?
A long-time Meals on Wheels volunteer has been making an Annual Fund gift of $50 for many years. She always wishes it could be more, but a fixed income prevents that. In her will she arranges to leave a $2,000 bequest to SMAA’s endowment, with the request that the interest will go to support the Annual Fund. When she dies, her legacy gift will provide approximately $100 toward the Annual Fund each year. This amount will grow over time, keeping up with the cost of inflation and forever helping to fund the costs of delivering Meals on Wheels, a program close to her heart.
Here’s what your bequest to support our Annual Fund will do:
A bequest of $ 2,000 will provide an Annual Fund gift of $100
A bequest of $ 4,000 will provide an Annual Fund gift of $200
A bequest of $10,000 will provide an Annual Fund gift of $500
A bequest of $20,000 will provide an Annual Fund gift of $1,000
Make a Named Gift for Endowment
A named gift for endowment is one in which you have the opportunity to create a named gift for endowment in honor of or in memory of a loved one. The minimum gift for funding a named gift for endowment is $20,000. Donors who wish to create a named endowment must sign an endowment memorandum of understanding signed by the donor(s) and the President of the Board.
Gifts made to endowment are irrevocable. As planned gifts may not mature for many years, it is important that the donor and a SMAA development officer discuss and document the donor’s intentions for future administration of the endowed gift. Donors should discuss the feasibility and practicality of intended gift restrictions by contacting Kate Putnam, Director of Development and Marketing.