Endowed funds provide a permanent source of income for the needs of the Cleveland Institute of Music. The principal is held in perpetuity, and only the income generated by the fund is used for the fund's designated purpose.
Although unrestricted funds are important in maintaining a fiscally healthy institution, income from endowment funds can be designated according to the donor's wishes. An endowed fund may, for example, support student scholarships (see our page on endowed scholarships for more information), faculty salaries, or a specific program.
In addition, an endowed fund can be named to honor or remember a loved one.
See other giving opportunities: