PAACO Endowment Fund
In 2001, PAACO established a new Endowment Fund for the purpose of increasing its fund raising efforts. This Endowment Fund will allow PAACO to receive gifts from donors who wish to support and contribute to the goals of the organization by raising scholarship funds for minority students in the Pueblo community who pursue a college education.
PAACO has embarked upon this fund raising campaign to solicit donations from individuals and corporations to increase its efforts in providing scholarship funds for academically achieving minority students. This new initiative, coupled with other fund raising efforts will allow PAACO to reach its goal of assisting needy African American students in Pueblo.
The PAACO Endowment Fund is kept in a completely separate investment account and is managed by a sub-committee designated by the PAACO Board of Directors.
In October of 2001, PAACO received its first major gift in the amount of $25,000 from an anonymous donor. This donor has requested that PAACO not release their names or any other information about the nature of the gift. This generous donor did indicate that they were in full support of PAACO as an organization and its goals to provide scholarships, mentoring, and tutoring for African-American students.
PAACO will benefit from the interest earnings of this gift and will be able to provide more scholarship funds for Pueblo students. It is our hope that this generous gift serves as a beginning point for our ongoing fund raising campaign.
In 2001, PAACO also received a major matching gift in the amount of $10,000 from the David and Lucile Packard Foundation. This gift will be used as a match to the funds that PAACO raises for students, thereby increasing the scholarship funds that PAACO can make available to students.
PAACO would like to express its gratitude to the Anonymous Donors and the David and Lucile Packard Foundation for their generous gift. These contributions will make a difference for students wanting to attend college.
If you would like to make a charitable contribution to the PAACO Endowment Fund, please write us at PAACO, P.O. Box 11833, Pueblo, Colorado 81001, for more information or call 557-2306.