But it wasn't a $7 million angel gift. It was a much smaller amount used to set up an endowment that has been invested since the 1990s in a very, very hot (until 2008) stock market, and which even after the 2008 setback has come roaring back with a vengeance. Plus additional gifts over the years.
My own nonprofit's rather puny endowment, which yields only about $3,000 per year in distributable funds, started with an initial investment of $10,000, ten years ago. It's been augmented with smaller gifts over the years, but most of its growth to today's $75,000 is from the investment income.
Last edited by Julie Steiner; 03-21-2022 at 01:40 PM.