From time to time, the Board of Trustees identifies major building projects, acquisitions and programs that are necessary to support the Academy’s mission. Examples might include a new dormitory, athletic field, piano for the music program, or endowment for an academic or co-curricular program. These capital expenditures are funded by capital gifts, contributed by the Academy’s loyal supporters.
An endowment is a gift of cash or other tangible property (stocks, bonds, real estate, etc.) invested to produce ongoing income for a designated purpose. Endowments can be used to establish funds to support scholarships, faculty professional development, as well as academic, athletic and arts programs. In addition, endowment funds can be designated for speaker honorariums, facility maintenance, technology resources and faculty chairs.
Endowment gifts are placed in the commingled General Endowment Fund, which is managed according to the current investment policies of the KUA Board of Trustees. Annual distributions are based upon the Academy’s endowment draw policy. Currently, that is 5 % of the last 3 years trailing average. The rate of return may vary depending upon prevailing conditions affecting the investment of the General Endowment Fund.
Many generous and loyal KUA alumni, parents and friends have established endowed funds at the Academy. These funds are held in perpetuity, assuring the donor that his or her gift will benefit the Academy and its students for generations to come.
If you are interested in learning more about capital gifts endowments at KUA, please contact: