Endowment Fund

Management & General Guidelines

PURPOSE & INTENTION
Through our trust-based sliding scale for tuition payments and the North Carolina Opportunity Scholarship Program, ALC Mosaic has been able to be accessible to families at almost all income levels. Our commitment to inclusivity and disrupting class privilege is unmatched in the private school landscape. The sacrifices of our staff have led this effort.

The purpose of the ALC Mosaic Endowment Fund will be to close the compensation gap -- ensuring the retention of ALC Mosaic’s exceptional staff and attracting additional facilitators. This will inevitably impact our ability to expand and maintain access to lower income families. Once equitable compensation for staff has been achieved, the endowment fund will take on a new area of support: further expanding access through financial assistance; secondarily, to broadening enrichment opportunities for students; thirdly, to funding campus improvements and expansion.

CREATION & MANAGEMENT

The ALC Mosaic Endowment Fund will be created and sustained primarily through the donation of cash and marketable securities to a recently established investment account in the name of ALC Mosaic for endowment purposes. All donations will be tax-deductible, as ALC Mosaic holds federal 501c3 status.

  • The minimum for each contribution to the fund will be cash or stock equivalence to $2,000.

  • Contributions will be accepted at any time, but primarily sought in November and December of each year.

  • Donated securities will be held in the fund until called up for liquidation by the following guidelines:

    • In June of every year, between 10 percent and 20 percent of the fund’s value at that time will be liquidated and transferred to the ALC Mosaic operating budget to support substantial increases in staff compensation.

    • Securities in the fund that have gained the most in value since the date they were donated will be liquidated first.

  • No more than 20 percent of the fund will be liquidated in any given fiscal year without special permission granted by the ALC Mosaic Board of Directors in partnership with the endowments active contributors.*

  • The yearly fundraising goal will be equivalent to the 2X the amount liquidated the previous year to ensure the growth of the fund until its goals have been achieved. If no assets are liquidated in a given year, the following year’s fundraising goal will be set by the Board of Directors of ALC Mosaic INC.

  • Fundraising reports and donation receipt letters  will be provided to all contributors in Q1 of each year.

  • The ALC Mosaic annual budget will be shared with all contributors in Q3, along with a report that details the annual draw on the fund and its impact to staff compensation. Please note that ALC Mosaic’s fiscal year is July 1 - June 30.

All active contributors to The ALC Mosaic Endowment Fund will be given copies of an annual budget in July of each year and a narrative report of the impact of the fund on the organization in November of each year.

*Active contributors will be defined as anyone who has made the minimum contribution to the fund within the current or previous fiscal year. This allows donors to remain active contributors even if they are unable to make the minimum contribution each year -- they can retain this status by contributing again the following year. 

To Donate Securities:
Please transfer securities using the following information:
TD Ameritrade DTC# - 0188
ALC Mosaic INC, ATTN: Thomas A Parker
Account # - 252073644

To Donate Cash:
Please make checks payable to ALC Mosaic INC
Please mail checks to:
ALC Mosaic
6100 Monroe Road
Charlotte, NC 28212
Please include “ENDOWMENT FUND” on the memo line

For any questions related to the ALC Mosaic endowment fund, please reach out to Tomis Parker tomis@alcmosaic.org.