Here is how your Endowment donation through the Community Foundation of Southern Wisconsin can help.
Everyone is well aware that Milton College alumni will not be around forever. In an effort to ensure the legacy of Milton College, a permanent endowment fund has been established with the Community Foundation of Southern Wisconsin. Although an “endowment fund” of sorts was initiated several years ago, the money was invested in CD’s and could at the discretion of the Board of Directors be used for other purposes. Now, however, the principal cannot legally be used. Annually the Foundation will distribute income in the form of grants. Grant making will begin following 12 quarters of investment growth. The interest on the principal will grow during those initial years.
The Community Foundation of Southern Wisconsin was established in 1992 as a tax-exempt public charity. They currently receive and invest tax-deductible gifts and distribute grants for 450 funds supporting an array of charitable interests.
The goal of the MCPS endowment fund would be an annual grant distribution for the operating budget. To fully support the current budget, $800,000 to 900,000 would be needed. The current fund balance is $74,000. How do we build up the fund? Only with your help! Alumni passionate about Milton College, Main Hall and their memories must play a role in building this fund. Even if you are not passionate, the possibility is very great from the many genealogy inquiries received that someone in the future will want to know about your time at Milton College. MCPS and Main Hall are all that remain of Milton College. Other buildings remain but are privately owned.
The question that many are afraid to ask, “What happens if the fund cannot sustain the organization and Main Hall?” In the agreement with the Foundation Schedule B, item #3 states: “In the event Milton College Preservation Society, Inc. ceases to exist, grants will be made to the qualified organization designated to accept the responsibility of artifact and historic oversight.” The Board has yet to determine who that may be. We want to be sure the “qualified organization” will preserve and disseminate the Milton College story. With a sizable endowment, perhaps a staff person could be hired by that organization to keep “the sprit alive.”
But the big goal is to have the archives and museum live on forever in Main Hall. Talk to your former classmates put up a challenge donation - make your class the biggest contributor! You can’t turn back time, however you can keep it from being lost. As in a recent comment from an alumnus, “And time marches on.”
Your endowment donation can be made to MCPS Endowment Fund or directly to the Community Foundation of Southern Wisconsin. Further information about the Community Foundation can be found on their website
www.cfsw.org or by contacting Jane Duesterbeck, Donor Service Representative, at 608-758-8551 or