An Intelligent Investment
Gifts to Scouting
An Intelligent Investment
The Old North State Council's
endowment fund has grown phenomenally in recent years, giving the council a greater
sense of security.
 In the Thomas
family, five sons and one grandson have already reached Eagle Scout rank, and
more grandsons are on track. As part of their continued support of Scouting,
John W. Thomas Jr., kneeling, and his family recently donated $2.1 million to
the Old North State Council's endowment fund. |
When it comes to building the endowment fund at the Old North State Council in
Greensboro, North Carolina, the council's vice president of endowment, Bill Latture,
is not boasting when he says recent years have been "very successful."
Endowment
funds at the council have grown from just over $2 million in 1995 to over $7 million at
the end of 1998. This phenomenal growth of endowment funds has given the council a greater
sense of security and the knowledge that funds for operating expenses, property improvement,
and program enhancement will be there when needed.
"When you own a house," Latture
points out, "you need to put aside the money for a rainy day in case the roof develops a
leak."
Scout Executive Bill Brackett adds, "Too often in the past, we've had to wait
until the pump broke, then go raise money to buy one, so to speak. Now we can include money
in our operating income from the endowment fund to maintain our facilities."
 Embracing the
endowment portion of Scouting's strategic plan, Scout Executive Bill Brackett,
left, and his council are on track to exceed their $6.1 million goal. |
Much of the early increase in Old North State funds may be attributed to the merging
of councils, but more recent catalysts have been an enthusiastic capital endowment campaign,
receipt of several major donations from supporters - including gifts of $300,000, $500,000,
and $2.1 million - and the savvy management of donated funds.
"We have very conservative
bylaws that say only income from the principal (of the endowment fund) is available," explains
Latture. In this manner, the principal of the fund is retained to provide future income for
identified needs and emergencies. Endowment money for everyday operations and improvement
projects must come from the fund's investment returns, and, as Latture points out, "It takes
a great deal of investment to provide the funds we need on an annual basis."
For help
with these investments, the council sought professional advice.
"We went through the
process of securing a consultant who helped us identify a fund manager," says Brackett.
"Since we've done that, the return has been significantly above average for our endowment
funds." The move to a fund manager showed very tangible results: the Old North State Council's
endowment fund jumped $1 million in one year.
 Funds from the
capital endowment campaign will allow the council to finish a dining hall at its
Cub Scout camp and new troop sites at its Scout reservation. Funds also ensure
that all council facilities are kept in first-class condition. |
But while the council members can be justly proud of their accomplishments, the drive to
build funds is far from over. The current two-year capital endowment campaign has been very
well received by the public and is already close to its $6.1 million goal - a year ahead of
schedule. Funds from the capital portion of the campaign will help finish a swimming pool
and dining hall at the council's Cub Scout camp. Troop sites and a "primitive" camping site
will be added on the Scout reservation. A new wing for the council office will be built, and
a lakeside camp will begin to take shape as a base for Sea Scouts, complete with a 50-mile
canoe trail.
Funds from the endowment portion will give support to the council's
Scoutreach program, take the pressure off fund-raising on an annual basis, provide maintenance
money to keep council facilities in first-class condition, and assist the council in meeting
national Scouting goals that encourage a higher percentage of council income coming from
endowment.
"We thought that $6 million was probably the maximum we could raise," says
Dr. Michael D. Priddy, 1998 council president, "but it's going so well that we feel like we
can go ahead and include other council needs that had been identified and hopefully end up
with a campaign total between $8 and $9 million."
A key reason the campaign has been
so successful, Brackett feels, is the number of people willing to get involved.
"From
the time we started recruiting volunteers for the campaign, we talked to about 60 people before
we had anybody say no," says Brackett. "People are impressed with Scouting. They're pleased
that their sons and grandsons and other young people in the community can have such a
high-quality program. If you read in the newspaper about all the things young people are doing
today, you might get depressed and think there's not a good kid in the world. But Scouting has
been quietly going about instilling good values in young people every day. People get excited
about that."
  Bill Latture, council vice president of endowment,
left, and Dr. Michael D. Priddy, council president. |
John W. Thomas Jr. and his family agree. The one-time donors of a staff building at the
National High Adventure Sea Base in Florida and recent donors of $2.1 million to the Old
North State Council believe so strongly in the Scouting program and what it does for young
people that "we just can't see supporting any other program to that extent," says Thomas.
Involved in Scouting himself since having a "grand and glorious time" as a Cub Scout in
the 1930s, Thomas has served in numerous local, regional, and national Scouting offices,
including those of council president and honorary chairman of the capital fund campaign,
president of the Southeast Region, chairman of the national High Adventure Program Committee,
and national commissioner. He currently serves on the Old North State Council board and the
National Advisory Committee. His wife, Tommie, served as den mother for their boys - all five
of whom became Eagle Scouts - and both John and Tommie are thrilled that their oldest grandson
has also reached Eagle.
"A gift to Scouting is a very intelligent investment in the f
uture of America," says Thomas. "A very, very high percentage of the young people who come
out of the program are the kind of citizens we need to go forward in this country."
And
as Thomas points out, "The more we can support the program, the wider it can be offered." Every
gift from a supporter, large or small, means that Scouting can make a difference in one more
community, one more family, and one more life.