How to Establish an Endowed Fund

All endowments have a story to tell and are an important part of The Summit’s history. Endowments are made possible through the generous investments of alumni, parents and friends to show their support and passion for The Summit. 

Endowed funds at The Summit are invested gifts that provide stable, sustained revenue to support their intended purpose. These funds may be created for various purposes, including faculty support, student scholarships, curriculum innovation building and grounds enhancement. They provide ongoing, permanent support for designated funding recipients by use of interest earned on endowments, rather than the expense of the funds themselves. The Summit Country Day School Foundation is the fiduciary of endowed funds, and its mission is to prudently manage those funds to support The Summit in perpetuity. Specific donation amounts are required to establish an endowed fund. 

Ragland Family Endowment Incentive Program 

Established in 2019 by Nick & Marty Ragland and Nick & Joelle Ragland, this fund was created as an incentive program to encourage benefactors to establish a new endowed fund to grow the Summit Country Day’s endowment in support of the Summit’s mission and students. 

  • Eligible new funds created with a commitment of $50,000-$99,000 will receive $5,000.  

  • Eligible new funds created with a commitment of $100,000+ will receive $10,000. 

Named Scholarship Funds 

Endowed scholarships 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. 

Managed Endowed Accounts  

Establishing a managed endowed account is done with a minimum contribution commitment of $50,000, payable over a five-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. 

To create an endowed fund, please contact Lauren Goebel, Assistant Head of School for Advancement and Community Engagement.