Endowed Scholarships
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| Type: | Scholarship |
| Amount: | Varies What's this |
| Additional Information | |
| When an individual or organization establishes an endowed scholarship, the gift is set aside as principal to be invested in perpetuity. Only the income and earnings from the principal are distributed as scholarship awards. Endowed scholarships are established with a minimum donation of $10,000. If an endowed scholarship is established with less than $10,000, it will be considered an emerging endowment. All interest will go into the principal until the $10,000 level is attained, at which time it will become an endowed scholarship. Not withstanding the foregoing, if the emerging scholarship endowment does not reach its $10,000 minimum balance within three years of establishment, the funds will be transferred to the general endowed scholarship fund to be used as the Foundation Board of Directors determines appropriate. | |
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