Community Foundation of Abilene : Give : The Power of an Endowment
Just how do endowments work?
As an example, the James Hopper Memorial Scholarship Endowment was established at the Community Foundation in 1988 to honor the memory of James Hopper a wonderful young man whose life ended too soon. His memory lives on in the scholarship that is awarded each year to a graduate from the high school he attended.
James' parents and friends started the fund with $41,990 in October of 1988. Since then, the fund has awarded more dollars than the original gift - $48,000 in scholarships to 26 students and the fund balance has grown to $95,141. The growth of principal means that larger or more scholarships can be awarded. The fund continues to make a vital difference to the scholarship recipients and makes James' memory a living testament.
| Established | October 26, 1988 |
| Beginning Value | $41,990 |
| Additional Gifts to Fund | $7,775 |
| Current Value (12/31/07) including market appreciation | $95,141 |
| Scholarship Grants distributed to date | $48,000 |
