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endowment
\En*dow"ment\, n. 1. The act of bestowing a dower, fund, or permanent provision for support.
2. That which is bestowed or settled on a person or an institution; property, fund, or revenue permanently appropriated to any object; as, the endowment of a church, a hospital, or a college.
3. That which is given or bestowed upon the person or mind; gift of nature; accomplishment; natural capacity; talents; -- usually in the plural.
His early endowments had fitted him for the work he was to do. --I. Taylor.
Source: Webster's Revised Unabridged Dictionary, © 1996, 1998 MICRA, Inc
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The JLP Endowment Fund was started in 1985 by then Active Member Deb Hammond. She envisioned an endowment that would be
invested over time, and in the future be used to help support JLP projects to the benefit of our community.
The Junior League of Portland, ME, Inc. Endowment Fund is composed of all charitable gifts and bequests
from any persons as memorials or honoraria. The Junior League encourages and accepts gifts in the following forms:
- Cash
- Recognized securities that are traded on local, regional, and national markets.
- Real estate (provided that it is acceptable and not encumbered by unreasonable conditions).
- Certain private or closely held unlisted stock (which has value and which can be sold at some later date).
- Life insurance (by assignment of ownership or as beneficiary).
The JLP Endowment Fund is managed by Salomon Smith Barney, and the JLP Board is involved with all investment decisions.
The Board of Directors desire is to reinvest all assets until the Endowment reaches $100,000, our Endowment Fund Goal.
Frequently Asked Questions
Question: How is the Endowment Fund invested?
Answer: The portfolio is invested in a moderate blend of 60% equity and 40% fixed income.
The 60% equity portion of the portfolio will be allocated to 40% Large Cap Growth Equities,
40% Large Cap Value Equities, and 20% Small/MidCap Growth Equities.
Question: Why should I invest?
Answer: An investment in the Endowment Fund is an investment in the future of the Junior League of Portland.
The Endowment Fund will help build and support new projects for our community and JLP
(Center for Grieving Children, Kid’s First Center).
Question: What is the goal of the Endowment?
Answer: Our goal is to reach $100,000.
Question: Will JLP spend the $100,000 once the goal is met?
Answer: The JLP Board of Directors set a spending policy, which means only 3% of the portfolio value can be
used annually when the Endowment value reaches $100,000.
How can I donate?
If you wish to donate to the Junior League of Portland, Maine, Inc. Endowment Fund,
please download an Endowment Fund Form
or click on the button below to donate online.
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The Junior League of Portland, Maine Inc.
One City Center • Suite 1-105 • Portland, ME 04101
207-874-9756 • 207-874-9757 FAX
email:info@jlpmaine.org
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