Forever Fund Endowment
What is the Forever Fund Endowment?
The Forever Fund Endowment is a disciplined savings and investment strategy by Friends of Kijabe to provide long-term, consistent funding for medical education, patient care and infrastructure projects at AIC Kijabe Hospital.
What is unique about the Forever Fund Endowment?
The fund guidelines need enough flexibility to balance opportunities with long-term outlook. Written into the structure are provisions for lending to major Kijabe Hospital projects or investment in a Kenyan fixed-income interest-bearing account. The bulk of the balance must be held in U.S. based investments.
How will the Forever Fund Endowment be funded?
A seed grant from a private family foundation in Melbourne will provide up to $360,000 USD to launch the initial fund. A percentage (currently 5%) of general donations will be allocated to the endowment.
How may an individual/organization contribute?
Please contact us to discuss goals and wishes for your gift.
Melbourne Seed Grant Details:
The matched funds will be placed in a FoK endowment fund, with the following terms:
1. Balance will be held in U.S. based investments/funds designated by endowment committee and approved by FoK’s board.
2. An acceptable portion (if approved by Friends of Kijabe board) may be held in trust by Kijabe Hospital to take advantage of high Kenyan interest rates.
3. An acceptable portion (if approved by Friends of Kijabe board) may be loanable to the Kijabe Hospital for revenue producing projects, repayable in no more than 5 years at a rate acceptable by FoK.
4. Endowment terms should include ESG/ethical investment guidelines with a focus on clean energy, as approved by FoK.
Amount: Up to $120,000/year for 3 year term provided Friends of Kijabe meets match requirements of $80,000 new monthly donations/year and $40,000 in $5000+ donations specifically noted for Melbourne Foundation Match Grant.
$5000+ donation will be matched bi-annually. Recurring donations will be matched at the end of a 12-month giving period.
*Actual Foundation name may not be disclosed under terms of agreement.