What is an Endowment?
A financial endowment is a donation of money or property to a nonprofit organization for the ongoing support of that organization. Usually the endowment is structured so that the principal amount is kept intact while the investment income is available for use, or part of the principal is released each year, which allows for the donation to have an impact over a longer period than if it were spent all at once. An endowment may come with stipulations regarding its usage.
Why Endowment at Historic Annapolis?
A strong endowment fund can provide much-needed, long-term support for our organization and is necessary for Historic Annapolis to sustain its current resources, as well as continue to grow and thrive. Contributing to our endowment is an impactful way of ensuring the future of Historic Annapolis, as well as a creating a meaningful legacy for the giving individual or foundation.
Historic Annapolis has been the leading preservation resource for Maryland’s capital city since 1952, often setting the standard for other preservation organizations nationwide. In the early years, Historic Annapolis became most known for securing the Colonial Annapolis Historic District designation as a National Historic Landmark, for securing the City’s first Historic District Ordinance, and for formalizing the regulatory review board that is known today as the Historic Preservation Commission.
Today, the Historic District is recognized as having the highest concentration of 18th century historic buildings in the nation. Historic Annapolis continues to preserve the Historic District through protective easements, a historic markers designation program, capital projects, and advocacy work. In addition, we manage a dozen historic properties including two national historic landmark houses, a two-acre historic garden, a museum, and retail stores. We also provide valuable educational, interpretation, and community programs that highlight Annapolis history and its connection to our nation’s larger story.
As a nonprofit organization, we depend on both private and public support to meet our unrestricted and restricted needs. The investment income from our existing endowment is less than 1% of our total operating budget. Historic Annapolis is looking to grow its endowment significantly so that it can more robustly augment the organization’s operating budget, providing a predictable source of annual income for programs, educational opportunities, staff salaries, maintenance, and other activities that enhance HA’s work and mission.
Endowment funds can go toward restricted programs (e.g. capital funds or education programs for school children), or general operating expenses that are often the most difficult to secure, but also the most crucial.
How to Give to our Endowment?
Individuals who are interested in preserving the future of Historic Annapolis have a tremendous opportunity to contribute. Support for an endowment can be giving through:
- Current Gifts (cash, stock or mutual fund shares)
- Will Provisions
- Life Income Gifts (gift annuities and charitable trusts)
To learn more about Endowments or other ways of supporting Historic Annapolis, please contact:
Karen Theimer Brown
President & CEO
410.990.4513
karen.brown@annapolis.org