Individuals or groups are encouraged to establish and fund Named Endowment Funds in memory of, or to honor, an individual, family or other group. Anyone may designate donations to an existing Named Fund. (see also the Giving tab). The AFBHS Board of Directors has also established, and is growing, a General Endowment for the purpose of funding scholarships in perpetuity. Class Endowment Funds are created and funded when the unrestricted gifts of members of a single class exceed, in any one year, the level of one annual scholarship.
Unrestricted Funds – These funds are broadly discretionary to AFBHS and are available to meet operating and scholarship program needs as determined by the Board of Directors.
Any gifts made without stipulation will be treated as unrestricted.
Donations designated for one-time scholarships are not accepted by AFBHS. Anyone wanting to do so should contact Belmont High School directly.
Unrestricted funds in excess of those needed for annual scholarships or expenses will be deposited at the discretion of the Board into the General Endowment Fund and invested to produce earnings for future scholarships.
General Endowment Fund – Unrestricted funds not needed for expenses or the annual scholarship program may be deposited by the Board of Directors into the AFBHS General Endowment Fund. These funds will be considered permanent endowment and will be invested for growth, with the goal of achieving a level at which the earnings of which will make possible scholarships beyond those that can be supported by annual donations. Earnings of the General Endowment may be reinvested or used for scholarships at the discretion of the Board.
Class Endowments – These endowments, named for individual graduating classes of BHS, are funded by unrestricted gifts from members of a single class that exceed in one year the level of one annual AFBHS scholarship (currently $2,500). Individual gifts cannot be specified for addition directly to a Class Endowment. Class endowments are invested for growth to the level at which their earnings can provide for scholarships. Giving directly to a Class Endowment is not permitted.
Named Endowments – Any individual or group may create a Named Endowment in memory of, or to honor, an individual, family or other group. The value of the gift required within the first year to create a Named Fund will be determined annually by the Board of Directors (currently $1000). After creation, any individual may donate any amount directly into a Named Fund. A Named Fund will be invested for growth with the objective of reaching the level required to become a Permanent Named Fund. That level is determined at initiation by the Board (currently $50,000). Earnings from a Permanent Named Fund will be used to provide scholarships in the name of the Fund. Named Funds that do not reach the level of permanency within 5 years will be reviewed annually by the Board in conjunction with the principal donors to the fund, if possible, to determine whether to maintain the fund with expectation of permanency or to find a way to honor the name of the Fund with other possible uses of the funds including one-time named scholarships.
Current Named Endowment Funds
The T. Meldon Wenner Scholarship Fund
The Evelyn Hornsey Scholarship Fund