A Culture of Philanthropy
Candle 4: Creating a sustaining foundation
By creating an even more ambitious sense of the College’s possibilities, Monmouth can inspire even greater levels of generosity and commitment.
An enhanced culture of philanthropy will increase annual giving — focusing on donors at the $1,000 and higher levels — and by also adding significantly to the College’s register of deferred and planned gifts, which helps guarantee a strong Monmouth for future generations of Noble Scots.
Planned and deferred gifts
A bequest is a gift to Monmouth at the time of death. It is the simplest type of planned gift and one of the easiest to implement. The donor can designate a specific amount, a percentage or the remainder of an estate to the College. A charitable gift annuity is an agreement through which a donor makes a gift of cash or property, and the College agrees to make fixed payments for one or two individuals for the remainder of his/her life. A donor can make a gift to the College of retirement assets, including their IRA, 401K or 403B, pension or other tax-deferred plan.
Gift of Farmland
Monmouth College is unique in that we accept gifts of farmland but do not liquidate the property. Rather, the College retains a farm manager so the land continues to be farmed. Under this arrangement, a revenue-sharing formula benefits the contracted farmer and the College. This unique asset has greatly assisted diversifying the College’s endowment investment portfolio, particularly when financial markets are volatile. We recognize the significance of farmland and its deep meaning to farm families, many of whom have been extremely generous to the College and its students.
Monmouth College has been generously gifted–and manages–over 1,100 acres.
Farmland accounts for $11.5 M of the total $140 million endowment.
A gift to support the Monmouth Fund touches every facet of the institution. For this reason, few gifts are of greater importance and value to the College than those that support continuing operations.
Primary contacts for gifts
Successes include more student scholarships, support for faculty innovation, enhancements to living-learning environment and twice as many deferred commitments to the College.Read More
More than eight months ahead of its Dec. 31, 2022, conclusion, the College passed the $75 million goal of its Light This Candle Campaign, which was launched in March 2019. With just a few days now left in the campaign, its total has soared to $79 million. President Clarence Wyatt called the campaign’s success “an extraordinary achievement and worthy of celebration.” ... The College also had another successful Scots Day of Giving on April 6 (pictured), with more than 800 donors from all 50 states combining to contribute more than $232,000 to support students and student programming.