In 2021, Intercambio’s board identified the need for an endowment fund as a step to ensure the financial future of Intercambio, and they established the Next 50 Fund.
What is the Next 50 Fund?
The Next 50 Fund is a permanent fund established at Vanguard. The endowment is invested, with dividends being reinvested, until such time that Intercambio’s Board of Directors vote to withdraw a portion of the funds from the endowment for the purposes it was created. The endowment is not intended to be spent down entirely. It will be safeguarded to grow and support the next 50 years of Intercambio and beyond.
What does the Next 50 Fund support?
The endowment provides a solid foundation for the future by providing funds when needed to be:
- A SAFETY NET reducing our vulnerability to economic crises.
- A resource for INNOVATIONS. When new opportunities arise, this is a resource to draw on to execute new projects that further the mission.
- An annual revenue source if the fund grows to twice the size of the operating budget.How big is the endowment? What is the goal?
At the end of fiscal year 2020-2021, the board approved the endowment policy, allowing for fundraising to begin. Before the campaign officially started, $250,000 had been pledged as cornerstone gifts.
We invite you to join us in raising $1 million dollars between now and June 2024. Your gift can be one big chunk or made as a pledge and given over the next three years. Thank you for giving to the next 50 years of Intercambio.
This is one of the many awesome stories in our 2021 Gratitude Report! Read the whole report by clicking the button below.
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