The Endowment - Long Term funding
Chico is blessed with many charitable organizations that fill the ever widening void between those that have enough and those that do not. The challenge for Chico is to keep these organizations viable today and into the future. Most charitable organizations struggle with their budgets and depend on donors to keep the doors open.
The families at the Esplanade House depend on your donations more than ever. The number of families living at the Esplanade House has increased from 12 to 45 in the last two years. The budget has also increased four fold.
What can we do to help the long term problem of funding?
I would like to suggest that all of us consider having our wills set aside 10 to 15% or more of our estate to support The Esplanade House. This money would be placed into an endowment fund where only the interest is used each year for the organization’s operations. An estate of $200,000 with a 15% gift ($30,000) would create an annual gift of $1,500 or more in perpetuity. The Esplanade House started an endowment fund 6 years ago. Through generous gifts, the endowment fund was able to contribute $15,000 towards the Esplanade House operations in 2006.
If you change your will to include The Esplanade house, it would help solve our need for long term funding. Please join me in aiding those in need at The Esplanade House.
Greg Webb