ENDOWMENT GUIDE
A CITY FOR GENERATIONS.
CHANGING
LIVE DIFFER
ENT,TOGETHER.
Antony and his family Class of 2020 HVAC Technician
THE MISSION: ABOUT CROSSPURPOSE
We exist to abolish economic, relational, and spiritual poverty through career and community development. When we started working with our neighbors in northeast Denver in 2008, we knew that the problem of poverty could not be solved with fragmented or relief based approaches Instead, we focused on creating a model that would eliminate poverty itself, rather than simply lessening its effects. By participating in our tuition free career and community development program, our students (called Leaders) can graduate from poverty and participate in meaningful work.
By 2020, CrossPurpose had successfully completed a five year goal to get 1,000 people out of poverty We are now pursuing a new strategic plan to expand the program and bring over 5,000 men, women and children out of poverty by 2025
BUILDING THE FOUNDATION:
TOMORROW'S CHANGE STARTS TODAY
To create the future we envision for the city of Denver, our work towards long-term sustainability begins now. Here you'll see the values that guide us in these endeavors.
GROWTHMENTALITY DEEPROOTS
We opened our second location in the fall of 2021 with two more to come by the end of 2025, making our goal to serve more neighbors a tangible reality.
In a city often inhabited by short term residents and marked by transience, we ’ re committed to staying and seeing growth in Denver.
CONTINUINGEXCELLENCE
We believe that the neighbors in our program deserve the best resources, spaces, and services available on their journey to success.
"We want to build a legacy institution of excellence in our city. One that exists for all, endures a hundred years from now and empowers tens of thousands of families to escape poverty."
Jason Janz, CrossPurpose CEO & Co Founder
WHAT IS AN ENDOWMENT?
An endowment is a gift to support CrossPurpose that lasts forever. An amount equal to a percentage of an endowment’s market value is distributed annually to the CrossPurpose program designated by the endowment donor, and the remaining balance is invested prudently to maximize its long term growth Year after year, distributions from endowments continue to support the intended CrossPurpose programs
MAY DONORS DIRECT HOW GIFTS ARE USED?
Yes When creating a new endowment, a donor may specify how CrossPurpose will use distributions from the endowment We work closely with donors to match their intentions with the designation they choose to endow
MAY CROSSPURPOSE SPEND ENDOWMENT DISTRIBUTIONS IN WAYS OTHER THAN DIRECTED BY A DONOR?
No In gift agreements donors specify the particular purposes of their endowment, and the organization is legally bound to honor donor wishes.
WILL DONORS RECEIVE REGULAR UPDATES ON THE STATUS OF THEIR ENDOWMENT DONATION(S)?
Yes. We are committed to accountability and transparency and so we provide annual reports on the status of individual endowments. CrossPurpose will publish regular progress reports on the investment performance of the CrossPurpose endowment
HOW DOES AN ENDOWMENT WORK?
UNDERSTANDING THE INVESTMENT
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endowment provides the maximum amount of current annual support for CrossPurpose programs while maintaining its value through long term investments. Consider this hypothetical example:
donor fully funds an endowment with a $200,000 gift to support student scholarships
the endowment’s value has increased to $210,000 after its first year It would distribute $8,400 in scholarship funding that year If after several years, its value grows to $250,000, the endowment would distribute $10,000 in scholarship funding.
year, 4 5% of the endowment’s is distributed for spending in support of that scholarship program
the while, the endowment’s principal balance is continually invested to maintain its value and fund CrossPurpose operations year after year 2 3 4.5% Annual Distributions to CrossPurpose Operations
Growth: Over twenty-five years, a $500,000 gift would generate $768,000 for the mission while the corpus would grow to $927,000.
HOW IS THE ENDOWMENT MANAGED?
STEWARDING THE INVESTMENT
The endowment is managed by Aveo Capital Partners, LLC, a Denver based investment advisory firm. Aveo has over $1.5 billion in assets and is the 18th fastest growing firm in the U.S., according to Financial Advisor Magazine.
Aveo’s mission is to deliver outstanding long term investment returns to CrossPurpose. It considers investments over a time horizon measured in decades, not years. This translates into a competitive advantage over more traditional institutional investors who face short term pressures on performance. Factoring in inflation and an annual distribution, Aveo focuses on achieving high real rates of return to support CrossPurpose today and to sustain its mission in perpetuity.
The portfolio is invested primarily in equities, fixed income and hard assets like commodities and precious metals.
Thanks to the generosity of our donors, sound investment management, and a prudent spending policy, the endowment will help CrossPurpose end financial, spiritual, and relational poverty far into the future.
FOUNDINGSUPPORT
100% of the CrossPurpose Board and Executive Team financially support the Endowment.
LEAVING A LEGACY: CATALYZING CHANGE FOR TOMORROW
“Over the years I have developed a deep affinity for CrossPurpose and its mission. We have chosen to give to the endowment to give CrossPurpose a permanent place in our community; to foster our goal of eliminating spiritual, economic and relational poverty to the next generation; and to serve as a beacon of hope for those of us struggling with opportunity in the Denver community.”
Ben Warwick, CrossPurpose Board Member, Donor & Ally
NAMING OPPORTUNITIES: HONORING GENEROSITY
Each of the Endowment sponsorship categories listed here offer naming and recognition opportunities to our generous donors.
We believe these gifts and the people behind them deserve to be honored and remembered Naming commemorates the significant transformation these gifts will bring about for our city for years to come.
LOOKING AHEAD: FORGING NEW FUTURES
Lydia Esquibel (page left) is no stranger to overcoming obstacles. She graduated high school after the birth of her first child, then spent the next twenty years raising her family, continuing her own education, and helping others find career training.
In 2016, after experiencing the loss of her oldest child and an unexpected layoff, she felt the foundation she had spent most of her life building drop out from under her Feeling shaken and uncertain of how to move forward, both Lydia and her daughter Daisy (page right) were referred to CrossPurpose and decided to take a chance on a new opportunity
In 2019, mother and daughter graduated from the program with certifications in medical field careers. In so doing, they’ve set a new course for their own lives and the future of their family.
As they continue to press forward, they find fulfillment each day knowing that not only is their family secure and cared for, but they can participate in meaningful work that benefits others in their community.
Lydia Esquibel (Mother)
Class of 2020 C3
Thank you for considering support CrossPurpose and the future of our city. To give today, visit crosspurpose.org/give/ or mail a gift to CrossPurpose at PO Box 2483, Denver, CO 80201. If you have questions, please contact giving@crosspurpose.org. CHANGING GENERATIONS
Daisy Carillo (Daughter) Class of 2020
C4