JLM ENDOWMENT Your Gift In Action

In 2009–2010, the endowment committee put a plan into place to take action to implement an endowment for the Junior League of Mobile. By definition, an endowment is a gift that is invested for an organization. It is set up to provide long-term support for a particular nonprofit organization or cause.

With an endowment fund, only a portion of the income earned is spent, while the remainder is added to the principal for growth. In this respect, an endowment is a perpetual gift.

JLM’s Endowment started the year of 2009–2010 with approximately $50,000 in funds earmarked solely for endowment. By the year’s end, the endowment fund had grown to $315,000.

Over the years, the JLM Endowment has surpassed goals, and new goals continue to be set. Because of the dedication of our endowment committees and continuous donor support from members and other organizations, the endowment is now over $750,000.

Andrea Moore, 2013–2014 JLM President, says, “To go from $50,000 to where we are now in 12 years is pretty incredible!”

This year, the JLM Board of Directors met extensively to discuss the plan of action for the endowment moving forward. After careful analysis of the financial reports, and many meetings with our financial advisors, a plan was enacted to put the endowment into action. In doing so, we were able to start this year by investing $30,000 from the endowment income into community projects.

This investment into the community is already having a big impact. These funds were used to award two $2,500 grants to the runners-up of our Adopt-A-School program, Booker T. Washington Middle School and Katherine H. Hankins Middle School. Awards to these schools were recognized at Christmas Jubilee 2022. Hankins Middle School Assistant Principal Laura Carter-Walker was presented with their check at Christmas Jubilee and discussed the needs of their students and the impact of the grant.

Funds were also allocated to revive the Community Assistance Fund and the Young Women’s Scholarship Fund. The application process for these programs will open in spring 2023 and more information will be provided on the JLM website.

2009–2010

ENDOWMENT IS IMPLEMENTED WITH EARMARKED FUNDS OF

$50,000

BY YEAR’S END, IT HAD GROWN TO AN IMPRESSIVE

$315,000

2022–2023

IN JUST 12 YEARS, THE ENDOWMENT IS NOW OVER

$750,000

JLM WAS ABLE TO INVEST $30,000 FROM THE ENDOWMENT INTO COMMUNITY PROJECTS

INCLUDING AWARDING $2500 GRANTS TO THE RUNNERS UP OF THE ADOPT-A-SCHOOL PROGRAM

FUNDS ALSO WENT TO REVIVE THE COMMUNITY ASSISTANCE FUND AND THE YOUNG WOMEN’S SCHOLARSHIP FUND