Securing The Future
Harwood Announces the Public Phase of Our Endowment Campaign
The Harwood Museum of the University of New Mexico is pleased to announce the beginning of the public phase of our Endowment Campaign. Having reached well over half of our $6,000,000 goal through the quiet generosity of numerous supporters, we now invite our members, our visitors and our community to join in to help us fully realize this inspiring vision of sustainability. We hope to complete our campaign in 2023, the Harwood’s Centennial year. To learn more about our Endowments and our Endowment Campaign, please read on. Won’t you help us reach that goal?
What is an Endowment?
An endowment is a long-term investment in the Harwood Museum that provides stable financial support for programs, facilities and staff, year after year, generation after generation. When you make an endowment gift to the Harwood, your gift is invested, and part of the annual interest is distributed to assist with annual funding needs. To continue to grow our endowments, any unspent earned interest is added to the investment fund thus increasing the yearly distributions over time.
More About Endowments
The earnings spending distribution is currently set at 4.5% (Fiscal Year 2022) based on a 20- quarter rolling average to mitigate investment market fluctuations and provide a steady, reliable revenue source for the Museum, even in market downturns. The Finance Committee of the UNM Foundation, which oversees all University of New Mexico philanthropic investments, is charged with analyzing the investments, then reviewing and setting the distribution percentage rate to ensure endowment growth and reliable distribution of funds to the donor designated departments. While all of the University of New Mexico’s endowment assets are combined for investment management purposes into a unitized pool known as the Consolidated Investment Fund (CIF), the Harwood endowments exclusively support the Harwood. Each endowment established to support the Harwood Museum of Art is designated as such in-perpetuity and provides funds directly to the Museum each year.
Making Your Endowment Gift
You may add to any of the existing endowment funds that support the various areas of the Harwood Museum of Art. While the most critical need is always for unrestricted funds, endowment gifts can be directed to a more specific area of your interest (e.g., education, collections care, exhibitions, etc.) With a gift of $25,000 or more, you may create and name an endowment. The endowment can bear your own or your family’s name, or honor another individual or organization. Endowments may be funded with a single gift, or with a pledge spanning up to five years. Endowments may be funded with:
• IRA charitable contributions
• Donor Advised Funds
• Charitable bequests in a will or trust
• Other forms of estate gifts
What lasting impact will YOU make at the Harwood?