Leaving a Legacy
At Palms & Souls, not only do your donations impact the community of Jocotenango today, but they also establish a legacy of love and influence for years to come. Since we know that the realities of poverty are not disappearing in the near future, we are passionate about establishing a mountain of sustainable funding that will lift up souls and create opportunities long after we are gone. So what’s the plan? Drum roll please….
The Palms & Souls Endowment Fund allows us to have an ever-growing, power-packed, sustainable money machine. Money doesn’t grow on trees, but it can grow in the stock market. We take 5% of all donations and invest them into the endowment, where they will grow over time and allow us to fund innovative new projects. Our hypothetical money tree grows at a 7% rate on average over the long-term. So if we build up the endowment to $100,000 and withdraw 5% per year (to adjust for inflation), we would have an average of $5,000 per year to fund additional projects to help change lives. These funds come every year without any campaigns, events, or solicitations. With these funds, more lives will be changed through projects like the baking initiative. The baking initiative is a seed idea from the president of El Buen Samaritano which would teach unemployed mothers to bake in an industry-quality kitchen and partner with local grocers who have agreed to buy their product. This is still in the dreaming phase, but is the type of project that could be funded solely through endowment returns!
The best part is by taking out only 5% every year, in 20 years we will have used 100% of the value from the original investment, and then we would be riding on the waves of interest from the foresight of past investors. The endowment will allow us to love people sustainability, innovatively, and bravely now and in the future.