Endowed Funds at The Summit

All endowments have a story to tell and are an important part of The Summit’s history. Endowed Funds at The Summit are invested gifts that provide stable, sustained revenue to support their intended purpose. Endowed gifts are made possible through the generous investments of alumni, parents and friends as an impacting way to demonstrate their support and passion for The Summit. Endowed funds are established to provide ongoing permanent support for designated funding recipients by use of interest earned on endowments, rather than the expense of the funds themselves. These funds may be created for a variety of purposes, including faculty support, student scholarships, curriculum innovation building and grounds enhancement. Specific donation amounts are required to establish an endowed fund.

Get involved through Endowments

Awards for Summit students

General Endowed Funds

Named Scholarship Funds

Endowed scholarship can be named and designated for specific use when a fund reaches $100,000 threshold. Naming an endowed scholarship preserves a benefactor’s interest in The Summit and can honor or memorialize a loved one, friend, classmate, or business. Students who receive a named scholarship are informed of the specific interests of the fund and that others share a commitment to their education through financial support.

Benefactor Endowment Incentive Program

Middle School Scholarship Incentive Program

Managed Endowed Accounts

Establishing a managed endowed account is done with a minimum contribution commitment of $50,000, payable over a 5-year period. Income from these funds sustain and enhance the school’s highest priorities for scholarships, faculty and student support, academic initiatives, and care of the school’s buildings and campus. Pre-named Scholarship funds are restricted gift accounts with a valuation of $50,000 to $99,999. Named Operations Funds are restricted gift accounts for non-scholarship areas of the school. These accounts must have a current valuation of $50,000 or more. Based on the school’s endowment spending policy and procedures for managing restricted funds, income from managed funds will be joined with other endowment income to support the above objectives.

Forever Funds

Forever Funds are endowed funds where the interest is designated in support of an Annual Fund initiative. The principal will remain intact and the annual earnings will be applied to the designated initiative.

 

Endowed Hardship Fund

James Evans Hardship Fund

Florence Koetters '58 Hardship Fund

Centers for Excellence

The Homan Center for Entrepreneurial Leadership

Schiff Family Science Research Institute

Faculty Support Funds

Endowment Funds may be restricted to provide The Summit with a significant and permanent source of financial support The Summit’s faculty. Like endowed funds for student scholarships, investment income earned by faculty endowment funds are used annually to support teaching. Endowed funds designated to chairs, faculty, and faculty development and research provide a significant source of The Summit’s operating budget to free up money to redirect for other academic areas of need. 

Professional Development

Faculty need to stay on the cutting edge of their disciplines. Endowments for professional development provide the necessary funds to encourage our faculty’s intellectual curiosity, critical-thinking, and learning outside of a classroom setting to spark innovation in teaching.
Professional development funds also provide opportunity for speaker, program, and seminar series to bring prominent speakers to campus to spark insight, engage conversation, and share knowledge within our Summit community.

Castleberry Curriculum Development Fund, established in 2015

The Theresa & Richard Davis Professional Development Institute, established in 1999

James E. Evans Teacher Institute Fund, established in 1990

Ragland Fund for Teaching Excellence, established in 2002

Campus Enhancement

These restricted funds are gifts utilized to create a beautiful campus with a focus on enhancing the educational experience, improving safety and augmenting the quality of life for our students, faculty, staff and visitors.