Spalding University is honored to offer donors the opportunity to create named scholarship funds in support of our students.
Named scholarship funds can be named for the donor themselves, their company or business, their family, or a loved one. This naming opportunity can provide donors with a visible means of demonstrating their personal commitment to higher education or a very special tribute to a loved one. Information on the many ways a scholarship gift may be made is available here.
Establishing a Named Scholarship at Spalding University
A named scholarship at Spalding may be made in several ways. While endowed scholarships exist and are awarded in perpetuity, there are ways to support a deserving student with a more modest financial commitment than required to establish an endowed fund.
ANNUAL GIFT SCHOLARSHIPS
Annual Gift Scholarships are funded by the donor making a gift of $2,500 or more every year. These funds are then used to fund the scholarship award during that academic year. The scholarships are not permanent and only continue as long as the donor makes an annual contribution to the fund. Some donors choose to establish an annual gift scholarship during their lifetime and provide funding to permanently endow the scholarship in their estate plans.
PERMANENTLY ENDOWED SCHOLARSHIPS
Permanently endowed scholarships are established by making a gift of $10,000 or more. This funding is then held as part of the University’s permanent endowment with the income generated being used to support the annual scholarship award. Like all of the University’s endowment funds, Permanently Endowed Scholarships can accept additional contributions at any time. Endowment Funds can be established through multi-year pledges and may be paid off over a time period of up to five years.
Many donors desire the permanency of an Endowed Fund while at the same time they are anxious to see their gifts start to provide aid to a student as soon as possible. The University offers these donors the option of making a combination gift, a part of which goes to an endowment fund, and a part of which is awarded immediately to a student. This plan also allows the donor to make their annual contribution at a level that fits their budget rather than making the entire $10,000 contribution at one time.
Named scholarship funds are a very personal way that you can make a difference for a student who is seeking the quality, values-based higher education unique to Spalding University. Please call the Spalding University Office of Advancement and Philanthropy at 502-585-7103 for additional information or assistance in establishing a Named Scholarship Fund.