Pledging for Phyo
What is Pledging for Phyo?
Pledging for Phyo is a volunteer advisory group with plans to be formed in Spring/Summer 2018. The group will advise on setting up the future MIT endowment fund in Phyo's name.
Why does PN2K need Pledging for Phyo?
Because Phyo was engaged with many areas of student life, we want to set up the endowment fund to align as closely as possible to the causes for which he cared most.
Who are you looking for?
We are looking for folks ("Pledgers") who can advise on where the endowment funds should be used. Pledgers are donors pledging their support to the future endowment fund. We would also like friends and family to help in any way possible so we can get a fuller picture of his life's aspirations so we can get this endowment fund right.
How will the fund be set up?
There are many ways to set up the fund. Current plans include setting up a scholarship fund due to their high rate of perpetuity and potential impact.
How will the MIT endowment fund work?
Donations become part of the principal amount which generates interest over time. The principal is not touched. The interest amount will be used for purposes to be decided after discussion with our Pledgers.
Why an endowment fund and not an expendable fund?
Since an endowment fund only uses the interest amount generated from the principal amount, the endowment fund is essentially a fund that lasts forever.
What is the fundraising goal?
$100,000 is required to set up an endowment fund. For scholarship endowment funds, $250,000 is required for a named fund.
Who do I contact to be a Pledger?
If you have questions, if you want to learn more, or if you're interested in being a Pledger, please email pnnkfoundation@gmail.com.