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For Generations to Come—The Campaign for The Huntington seeks to secure a stable financial base for the institution’s collections, people, and programs. With the Campaign’s success, the institution will be able to optimize its existing array of research, educational, and public programs and to assure their vitality for the future. The Huntington historically has practiced careful financial management and frugality. On average, more than 80 percent of annual expenses goes to program activities, far above the Council of Charities’ benchmark of 60 percent.
How Endowment Operates
Some people believe that Henry Huntington left a large endowment at the time of his death and that we have significant endowment resources today. In truth, Huntington left only a third of the endowment that was required to run an institution of the scope that he and his Trustees envisioned. His real legacy was in the collections that he bequeathed to the institution. Fortunately, the endowment that Huntington did leave has grown, thanks to additional gifts and good management. It currently underwrites about 30 percent of our operating expenses. However, The Huntington’s long-term financial health depends on increasing the size of the endowment and the proportionate contribution it makes to operations.
The Huntington’s endowment today is a collection of individual funds that donors have asked the institution to hold and invest in perpetuity. Members of the Overseers Endowment Investment Committee are responsible for the management of the endowment; their stewardship is consistent with the highest standards of modern endowment management practices. The funds are invested for long-term growth, with the following goals:
• Maximize long-term total investment return
• Maintain and increase the purchasing power of the principal
• Produce relatively stable returns in order to minimize the impact of significant market shifts on the endowment income available for operations
The market value of each individually endowed fund is tracked on a monthly basis. At the beginning of the fiscal year, a portion of the annual return (the “spending rate”) from individual endowments is withdrawn to support the purposes specified by the donors of the funds. All new gifts to endowment will have a spending rate applied to them of no more than 5 percent in order to protect the endowments from erosion over time. Our goal is to manage endowment funds so that they will be available to support The Huntington in perpetuity.
Endowment Minimums
Contributions for the following endowments are actively sought and gratefully received. These minimums seek to establish parity among the many divisions and programs at The Huntington.
Positions $1,000,000 – $2,500,000
To endow various staff positions, including, but not limited to, curators, specialists, and educators by providing support for the position and related expenses.
Named Funds $50,000 or more
To endow a named fund to provide for the ongoing operations and maintenance of a variety of projects, including:
• A specific building, gallery, garden, or space
• A specific collection of art, plants, or books
• Programs specific to a particular division in special areas of research, education, or exhibitions
• Ongoing support through pooled funds of The Huntington’s annual operations or for specific divisions, collections, programs, or discretionary funds
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