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| The strategic plan notes that the association would do better to launch a capital campaign to pay off the debt rather than a campaign to set up an endowment for future income.
Essentially, paying off the debt has a much greater return on our donors' investments than an endowment would at this time, the plan says. If the debt is paid off, that would free up $105,000 per year for other goals, it notes. An endowment of $1 million, on the other hand, would return about $35,000 to $40,000 a year. The financial stability that would result from retirement of the debt significantly enhances the BCMHA's ability to accomplish its mission and vision, the plan says. "Once the debt is retired, it would be appropriate for the BCMHA to seek endowment funds that would ensure cash flow necessary for permanent financial stability." |
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