Endowments & Non Endowed /Book Scholarships
An endowment is an investment in the future as well an invested gift that generates income to be used, in perpetuity, to support Grambling State University. Because endowments generate funds indefinitely, they are often referred to as “the gift that keeps on giving.” When you establish an endowment, your gift is invested with two goals in mind: (1) to allow the principal to exceed the rate of inflation and (2) to provide additional income for the University purpose you designate. An endowment agreement that specifies the name and purposes of the endowment is completed at the time of its establishment. For scholarship endowments, donors have the ability to designate many of the criteria for the awarding of the scholarship.
Endowment income provides security and protection that balances the other sources of income for GSU, which tend to fluctuate such as: tuition, state support, and annual gifts. A steady, increasing endowment income can mean the difference between merely sustaining the status quo or aspiring and achieving new heights of excellence.
Endowments can be designated by the donor to impact a specific program or area within the University (such as specific academic programs, scholarships, the library, textbooks, athletics and lab equipment.), or remain unrestricted to meet the most critical needs of the University. Donors can name a new endowment, and many choose to honor a loved one, recognize a favorite professor or create the endowment in their own name.
GSU Endowment Minimums:
General Endowment: $10,000
Endowed Professorship: $300,000 ($240,000 donor gift; $60,000 state match)
Endowed Chair: $1,000,000 ($600,000 donor gift; $400,000 state match)
Establishing an Endowment
A general endowment requires a minimum balance of $10,000 to be fully endowed. This minimum can be reached over a period of up to five years. Donors can also use corporate matching gifts to fund the endowment. Also, donors have the ability to name the endowment fund. The fund becomes part of the Grambling University Foundation's Endowment pool, but it maintains a separate identity as a specific account.
An endowed professorship provides perpetual support for outstanding faculty members. Each professorship is named by the donor who funds it. An endowed professorship provides resources to recognize a professor academic achievement and enables him or her to pursue research and/or innovative teaching methods.
An endowed chair is one of the most prestigious endowments at any college or campus. An endowed chair provides perpetual support for outstanding faculty members and is named by the donor who funds it. A portion of the total return generated by the endowment fund for a chair is typically spent to supplement the chair holder's salary, as well as provide additional income for such special purposes as purchasing publications that complement the chair's work, hiring graduate and post-doctoral students to assist in research projects, and buying research equipment that could not otherwise be made available.
Non Endowed Scholarship/Book Scholarships
A Non-endowed Scholarship or book scholarship is typically established as a one-time option (may be renewed annually) to award students or in some cases memorialize individuals. Many scholarships are funded through the giving of smaller donations and can be from numerous people.
Criteria to establish a scholarship
A commitment, outright of $500 or more is made to establish a Named Scholarship with Criteria. The donor can specify the year, major, hometown, need, and/or GPA of the scholarship recipients. Grambling State University (GSU) will ensure that the donors' specifications are followed in selecting recipients.
Considerations for Named Scholarships with Criteria:
- Will the scholarship be awarded to only student(s) who have financial need or will the scholarship be based on artistic merit alone? (Some scholarships' criteria address both.)
- Will the scholarship be restricted to students enrolled in a specific school or major, or open to all departments? (For undecided donors, the Office of Advancement is happy to recommend departments that have significant need for student funding.)
- Will the scholarship support undergraduate students, graduate students, or both?
- Will the scholarship recipient(s) have the award renewed yearly or only receive it once during their studies at the GSU?
For more information about endowments, contact Brenda Williams 318-274-6404.