The Founders Endowment
In 2013, Rocky Mount Academy received one of the largest single gifts ever made to our institution. A challenge gift of $250,000 was made from the family of one of the school's founders to establish an endowment to honor the legacy and contribution of the founders of Rocky Mount Academy. Since matching donations have been secured, we are well on our way to our initial goal of 1.5 million dollars.
"The founders of Rocky Mount Academy understood the importance of quality education and giving every student the opportunity to live up to his or her potential. The Founders Endowment will help ensure this opportunity for generations to come." --Beth Covolo
Q & A
An endowment is a fund intended to generate a stable and growing revenue stream, in perpetuity, to support the mission of an institution. For Rocky Mount Academy, The Founders Endowment will provide a measure of financial stability for future generations of students and families.
The Founders Endowment may be used for scholarships, faculty development, student programs, capital expenditures, general operations, or an other expense approved by the Rocky Mount Academy Board of Trustees. A strong endowment is a key element of the financial picture for many independent schoolS.
The Board of Trustees has adopted a Statement of Principles establishing the Founders Endowment. No distributions will be made until the Endowment assets exceed $1.5 million. After reaching that mark a designated portion of the Endowment assets may be spent annually, at the Board's discretion, to support RMA's mission.
Gifts of cash and securities are welcome. Cash gifts may also be pledged and paid over several years.