A private family foundation in Melbourne Australia approached Friends of Kijabe in early 2019 with a unique proposal to incentivize planned giving. Immediate gifts up to $40,000 and monthly gifts up to $80,000 will be matched. After much discussion about this amount, they made an amazing pledge, to triple the agreed-upon amount, not $120,000, but $360,000!
The first challenge to climb the elevation of Mt. Kenya in monthly giving, $17,057 for 17,057 feet. Monthly donations both to Friends of Kijabe and to Kijabe Hospital by Kenyan staff are eligible for the match.
Funds from the Mt. Kenya Matching Grant Challenge will be paid on a rolling basis and used to launch a Forever Endowment.
- Balance will be held in U.S. based investments/funds designated by endowment committee and approved by FoK’s board.
- An acceptable portion (subject to by FoK board, up to 20% of total) may be held in trust by Kijabe Hospital to take advantage of high Kenyan interest rates.
- An acceptable portion (subject to approval by FoK board, up to 30% of total) may be loanable to the Kijabe Hospital for revenue producing projects, repayable in no more than 5 years at a rate acceptable by FoK.
- Endowment terms should include ESG/ethical investment guidelines with clean energy focus per foundation.
Additional 5% of unrestricted funds (Friends Fund) will be allocated to the Forever Endowment on a regular basis.
Why is an endowment vital? We want Kijabe Hospital to have the capacity to provide excellent medical training, care for the vulnerable, and build the best medical facilities in East Africa, not only now, but forever.
An endowment is not a magic solution, it is a diligent process of building slowly over time for a forever future of compassion healthcare in Kijabe.