Office of Institutional Advancement

Endowed Scholarships

What is an endowment? An endowment is a monetary gift that is invested and the interest earned is used to pay for the program it supports — whether it is a scholarship, an endowed professorship, or purchase of equipment. The principle is never touched; only the interest is spent.

What is the advantage of an endowment to VUU? Endowment provides financial stability and allows VUU to implement long range plans.

What is the advantage of an endowment for the donor’s special interest? In a word: perpetuity. The project the donor funds is funded forever. The donor may also grow the project by growing the endowment. For example, by adding more money to an endowed scholarship, the donor can increase the scholarship amount awarded each year.

What programs or projects qualify for an endowment? Almost any VUU program can be endowed. By setting up an endowment for a school or a department, for example, the annual interest pay-out is given to the appropriate Dean or Chairperson to spend on academic or classroom enhancements, such as research laboratories and scholarships.

What is the minimum amount necessary to create an endowment? The amount varies depending upon the type of endowment. The minimum amount for an endowed scholarship is $10,000. This amount would fund an annual scholarship in which the amount depends on investment earnings, which vary from year to year. Other projects have higher amounts. For example, the minimum for an endowed lecture series is $250,000 and the minimum for certain endowed professorship is $1 million.

Any other advantages? Yes. When a donor perpetuates a program by endowing it, he or she can also perpetuate the name and memory of a family member or a loved one. Many endowed gifts are named, such as the Dr. and Mrs. Dallas Simmons Endowed Scholarship. A current listing of named gift opportunities has been developed for VUU programs and facilities.

 

For more information contact Dr. Letizia Gambrell-Boone