Lakeside Endowment Supports Chautauqua Experience

Staff Blogger: Gretchen Colon, Vice President of Advancement & Communications


 

The Lakeside Endowment is an investment for the future of Lakeside Chautauqua and is managed by the Lakeside Chautauqua Foundation (LCF). The endowment is a fund made up of gifts and bequests from the Lakeside community.

The principle is maintained and invested to create a source of income for Lakeside and the Chautauqua program. Each year, a percentage of the endowment is drawn on to support the Chautauqua program and special projects.

The LCF is responsible for raising and growing charitable gifts to support Lakeside Chautauqua in accordance with its mission. It also manages the long-term endowment funds and annuity accounts, oversees an annual giving program, cultivates major gifts, and provides oversight and accountability for funds raised, funds distributed and results achieved.

The Lakeside Chautauqua Foundation publicly announced the development of The Endowment for Life Initiative in 2012, a $12 million initiative. The goal of the initiative is to bring a heightened emphasis to the need of raising new deferred endowment gifts totaling more than $12 million by 2023.

From April 1, 2013-March 31, 2014, the Lakeside Endowment grew from $2.97 million to more than $3.5 million.

The net growth of the endowment is a product of investment returns and gifts, combined with less spending.

The Lakeside Endowment experienced total growth of $530,00, from income and gains and new gifts.

The spending rule for the endowment to benefit Lakeside Chautauqua’s operating budget is 4 percent of a 12 quarter trailing average of the corpus. Approximately $100,000 is dispersed from the endowment to support the signature Chautauqua program and the Lakeside experience each fiscal year.

Generous Lakesiders have grown the Lakeside Endowment with new gifts and pledges throughout the years. Although generosity from Lakesiders has grown the endowment to $3.5 million, the total fund still ranks far below many peer institutions that are more than 100 years old.

By planning a deferred gift to the endowment, you are strengthening and growing the endowment and shaping the Chautauqua program for the future.

Planned gifts are deferred contributions, which you can make through your will, retirement plan, trust or other life-income plan. They all offer attractive tax benefits. Your gift toward the endowment helps ensure Lakeside Chautauqua’s future.

For more information about how you can plan a gift in support of Lakeside’s Endowment, contact the Lakeside Chautauqua Foundation at (419) 798-5396 or advancement@lakesideohio.com.

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