Your donations and generous financial support of the Harvard Community Educational Foundation will have an immediate and immense impact on the educational opportunities offered to our children. In the past eight years, the Foundation has funded educational grants and scholarships totaling $414,042. And thanks to the continued generosity of the community, the amount budgeted for the current year for grants and scholarships is $71,400.
The educational grants come in two forms: Mini grants (less than $1,500) and Mega grants (more than $1,500). Both types are funded primarily by revenue generated by the Forever Fund, with some help from income generated annually by the Black & Gold Ball and targeted gifting. The Forever Fund is a non-specific purpose endowment fund that was established in 2013 by the Foundation’s Board of Directors from direct donations and other money generated through fund raisers like the annual Black & Gold Ball, with the idea that the principle dollars put into the fund would never be spent. The original amount of the fund principle was $1,000,000.
Although the Forever Fund’s principle would never be spent in perpetuity, the investment earnings from that fund would be used to annually support the mission of the Foundation to “…support quality education of Harvard’s children by enriching and expanding learning opportunities.” Through the generous direct donations and support by the Harvard community of the Foundation’s fundraisers, as well as the prudent guidance over the past 8 years by the Foundation’s Finance & Investment Committee, the Forever Fund principle has increased to over $1,800,000.
The larger the Forever Fund becomes, the more earnings there are to support the Foundation’s mission every year and consistently into the future. Thus by donating to the Forever Fund you can help the Foundation most directly, and forever, to support its mission to “…support quality education of Harvard’s children by enriching and expanding learning opportunities.”
Click on the tabs to the right to read more about how and where the grant monies are spent and the opportunities opened up for the children of our community through your gift!