Operations

Science of Mind Foundation News

By Lynn Thomas, Executive Director
Science of Mind Foundation

Thinking About Your Center’s Current Financial Needs?

How often do we find ourselves thinking about our current fiscal year needs: payroll, programs, property maintenance? How do we get beyond focusing on our current, pressing constraints? Perhaps it’s time to think about an endowment. With an endowment, you can reduce your center’s dependency on current income, diversify your center’s source of funds, and ensure long-term financial sustainability.

Having an endowment encourages your members
You are informing them of your long-term financial goals and your intention to stand the test of time. Plus, your members can now support the center with future gifts as well as with their current support.

Your endowment can be started with any amount of money, but take heed, building an endowment is a long-term commitment. It will take time for its financial contribution to your center to attain a significant impact. That’s why starting now is a must. Just like a savings or investment program, starting sooner rather than later is better and starting now will place your center in a more stable financial position in the years ahead. 

Bequests are generally the main component of endowment fundraising. The Science of Mind Foundation can help you set up and market an endowment/bequest program. Click on www.somfoundation.org/center_building_your_endowment.html to download a step-by-step guide. Use the Board Resolution in the Samples section to begin, then view the free, 4-color, PDF endowment brochure to market your initiative. The Foundation will add customized contact information if you contact Lynn Thomas at lthomas@somfoundation.org.