An endowment fund is money that has been set aside for the purpose of earning interest through investment. The principal amount in the endowment can never be touched or used for any reason. The money earned by the principal can be used to fund programs and endeavors whose purpose is consistent with the fund’s stated goals.
The Scholastic Endowment Fund earnings will be used to promote the growth of scholastic chess in Tennessee by providing materials, funding for chess instruction and similar activities.
The General Endowment Fund is intended to reach out and provide assistance to non-scholastic chess entities such as clubs, community organizations and foundations.