Establish A Scholarship Fund

SCHOLARSHIP PROGRAMS

The Foundation encourages support of the University’s scholarship programs, and accepts commitments in three categories.

• Gifts of any amount to support established scholarships
• Gifts of at least $25,000 to create a named current-use scholarship*
• Gifts of at least $50,000 to create a named endowed scholarship**

Giving to Current-Use Scholarship or Gift Funds

An ideal way of supporting scholarship needs and university initiatives, especially for those who wish to make gifts of less than $25,000, is to contribute to an already established scholarship or gift fund.  Such gestures can be a meaningful way to honor or memorialize an esteemed colleague, family member, or friend.  

The donor may direct the gift to any established scholarship or gift fund in the Foundation.  These include University initiatives, named scholarships, departmental general scholarship funds, or the Foundation’s General Scholarship Fund.  There is no named scholarship or named scholar when the gift is less than $25,000. However, the Foundation notifies scholarship recipients that their awards were partially funded by a specific donor, or through a series of memorial or tribute gifts.  The Foundation encourages scholarship recipients to thank the specific donor, or to acknowledge the grant to the family of the honoree or deceased.  

Creating an Endowed Scholarship

The Foundation requires a minimum commitment of $50,000 to create a named endowed scholarship account. Distributions will begin from the Fund no sooner than 18 months following the attainment of the minimum value of $50,000.  An initial gift of $10,000 is required to establish the account. Regardless of the size of the final commitment, the originating donor and others have five (5) years to complete the endowment funding. If at least $50,000 has not been given in five years from the date of the gift agreement, the Foundation, after consulting with the originating donor, will determine whether to use the accumulated funds to create a named current-use scholarship or incorporate them into another existing endowed account.

Endowed scholarships are the University’s most prestigious.  Each carries a donor’s name or a name designated by the donor, and recipients may use the designation on their curriculum vitae. As with named current-use scholarships, donors may restrict scholarship recipient selection to  

• Course of study
• Entering or returning students
• Need-based or merit
• Geographic area

The Foundation makes endowed scholarship distributions in perpetuity.  All funding and management of, and granting from, an endowed scholarship is governed by the Foundation’s Gift Acceptance Guidelines.  The Foundation tells scholarship recipients the name of the philanthropists who initiated their scholarships, and encourages scholarship recipients to thank donors.