Determine Type of Scholarship Fund
Endowed Scholarship Fund
Endowed scholarship funds are designed to be perpetual and can be created in full at the outset with a minimum gift of $20,000. Your gift can be paid-in-full or can be a pledge not to exceed five years. Your gift is invested to produce income, and the earnings are used to fulfill your philanthropic desires. The principal amount of your gift remains untouched, so the endowed scholarship can exist in perpetuity.
Annual Scholarship Fund
Annual scholarship funds can be established with a gift of $1,000, are not permanent and are awarded over a one-year period. Your gift does not produce income and the scholarship is awarded only for as long as you or others contribute to it.
Once you determine the type of scholarship you would like to create, you'll want to name and establish criteria for awarding the scholarship. To learn more about establishing scholarship criteria, click here.
