A new endowment fund will enable Camp Siloam to award more scholarships to campers who need assistance.
The camp recently received news that an anonymous couple has set up an endowment fund with the Arkansas Baptist Foundation designated for camp scholarships.
"The family who set up the endowment with the Baptist foundation did so anonymously; which is one of the highest forms of giving," said Jason Wilkie, executive director of Camp Siloam. "I so appreciate their concern for children and the future of Jesus' ministry at Camp Siloam. The man who set up the endowment asked me to invite others to join in increasing the principal of the endowment and assisting with the financial need of campers by contributing to the fund."
Endowment funds are a type of investment that holds its principal in perpetuity and only pays out a small portion per year. As the investment grows so does the portion that is distributed. The distributions can be directed by the individual that sets up the endowment.
"At the foundation, we have been blessed by the process of seeing gifts like this be established for the advancement of the kingdom through Arkansas Baptist ministries," said Bobby Thomas, president of the Arkansas Baptist Foundation. "The administration of scholarships for children can be some of the most rewarding work for us. We invite others to participate with us in God's work in Arkansas by continuing to be faithful stewards in regard to their financial resources."
Each summer, hundreds of campers submit scholarship applications with the need for financial assistance. Without a scholarship, many of the campers would not be able to attend camp. Camp Siloam's ability to give scholarships is solely due to the many donors who continue to support the ministry at Camp Siloam through their generous gifts to the camper scholarship program.
"One of our core goals is to ensure that no campers are turned away from camp because of the cost," Wilkie said. "We hope to give away $60,000 in scholarships this year, but the new endowment with the Foundation will aid in campers coming to Siloam for years and years to come."
Last summer, Camp Siloam awarded $40,233 in camper scholarships. At Camp Siloam, anyone can apply for a scholarship on behalf of a camper. The scholarships are awarded by a committee of staff who review the need for the scholarship.
In August, the Walmart Foundation awarded Camp Siloam with a $20,000 grant for the camper scholarship program. The scholarships from the Walmart Foundation will be made available to campers living in Benton and Washington Counties as part of the Walmart Foundation's Northwest Arkansas Giving Program.
For more information about how to support the Camp Siloam Scholarship Fund, please contact Laura McCarley of the Arkansas Baptist Foundation at [email protected] or 501-376-4791 (ext. 5904).
General News on 03/21/2018