An endowment is a permanent investment in the future of the Wylie Independent School District. Endowment funds are invested, rather than used as cash for immediate needs. The amount given by the donor (the "principal") is never spent. A portion of the earnings from the endowment fund is distributed annually for the donor's intended purpose (i.e. grants or scholarships). The Wylie ISD Education Foundation, Inc. has numerous donor-designated endowment funds that support the Wylie Independent School District. At the time the donor makes a gift, the Foundation prepares an agreement which documents the donors intended use of the endowment and the Foundation's administration of the fund.