Establishing an Endowed Fund

Endowed funds have been identified as a priority at Northwest State Community College. Endowments can be established for the support of student scholarships, faculty, academic programs, or other interests of donor.  These gifts live on in perpetuity and will benefit many for years to come.

A minimum of $20,000 may establish an endowed scholarship fund. This amount can be contributed through one gift or smaller multiple gifts, over a period of years. We then award a percentage of the funds on a yearly basis, based on a spending policy approved by the Board of Trustee’s which will be explained in your agreement. A $20,000 gift that awards 5% would generate a $1000 award. These funds receive investment income.

Points to Consider

• Donors may tailor their funds according to their own desires and interests. Naming the fund- some individuals use their own name and then others name the fund in honor or in memory of another individual or loved one.
• Donors may specify certain criteria they would like the fund to use. Example: Stipulating a certain major of study or financial need be the criteria for the awarding of the scholarship.
• Scholarship Fund Agreement- The scholarship agreement explains the donor’s wishes and standards for the fund. If requested you can review a sample standard agreement, the NSCC Foundation can assist you with this.