2023 Woods was endowed with intellectual gifts that allowed him, despite no formal engineering study, to become one of the most prolific U.S. It will also create a positive image of your company and you will receive a lot of recognition from the university.Recent Examples on the Web Funds from the campaign will help pay for scholarships, endowed professorships, equipment and more for the center.

If you have the means, creating an endowed scholarship can benefit a large number of students. Creating such a fund will bring a positive image to your company. You will be able to take a charitable deduction of as much as 50% on your adjusted gross income.įinally, the fund will help you build your brand. The university might choose to recognize you by inviting you to special events and ceremonies.Ĭreating an endowment fund also offers you tax benefits. When you create an endowment fund, you get recognized by the university. There are also benefits for you and your company.

College is extremely expensive and a great number of students aren’t able to afford the high costs on their own. Regardless of the reason, creating an endowed scholarship provides many benefits.įirst of all, there is the obvious benefit of helping many students get a college education. There are several reasons why you may wish to give an endowed scholarship. You may also choose to pay for the fund over a number of years. You may choose to give the endowed fund in a gift of cash or stock. They may ask for a gift of $50,000 or more. There is usually a minimum amount of money that you must donate to the university. These are things like the amount, name, and purpose of the endowed scholarship. This legal contract will include important details of your fund. Once you decide on the details of your fund, you will have to sign a gift agreement. Consulting with the development officer at the college can help you make these decisions.

These decisions can be difficult to make on your own. Do you want to award the scholarship to students who excel in academics? Or is it more important to you that the money goes to students studying a particular major? You may base your decision on your company’s mission.įinally, you need to decide how much you would like your endowed scholarship to give every year. The university manages your funds but you do get to decide how the money will be used.įor starters, how do you want to name your fund? If the fund is in memory of somebody, you will likely name it after that person.Īnother thing you will need to decide are the qualifications for students to win the scholarship. If an endowed scholarship sounds interesting, you will have to make several decisions. This is how your endowment can fund scholarships for years. Whereas a regular scholarship is a one-time thing, an endowed scholarship keeps producing income. The interest earned from your invested money is used to fund scholarships. When you give an endowed fund, the university doesn’t use your actual money to award students with scholarships. If this is something you’re able to do, your money will help a greater number of students. An endowed scholarship requires you to donate a large amount of money. If you would like to create a fund that will provide scholarships to students for years, an endowed scholarship can be a great option.

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