Endowment is a means through which an individual or a group can financially invest in the ongoing work of the Boy Scouts of America within the Great Lakes Council. Unlike the annual operating support fund drive through the council's Friends of Scouting campaign, endowment allows individuals and groups to make a financial commitment with a long term view to the work of the council in the form of either current or deferred gifts.
The money in the Endowment Fund is carefully invested by a corporate trustee, under guidelines given to it by Great Lakes Council's Executive Board. The purpose of an endowment fund is to never spend the principal of the fund. The interest earned each year is transferred into the operating fund to help finance the council's programs. Investments in the Great Lakes Council Endowment Fund are designed to be in addition to, and not replace or diminish, the donor's annual support of Friends of Scouting.
The endowment fund needs to grow each year. National Council believes that ultimately 25% of a council's operating budget will need to come from this source of income. Every Scouter in the Great Lakes Council can help build our endowment fund.