Endowed Scholarships
Invest in the Future of the University
An endowment is a self-renewing resource that the University holds in perpetuity (forever) and does not spend. Instead, endowed gifts are invested. It’s the earnings from these investments that help fund the donors cause.
Through June 2014, UIS is offering a special 1:1 match opportunity through the Access Illinois Scholarship Initiative, matching the endowment's earnings for up to ten full years.
How an Endowed Scholarship Works
Creating an endowed scholarship gives you an opportunity to put your name or the name of another person or organization on the fund in memory or tribute. A minimum amount of $25,000 is required to establish an endowment, but donors often give more.
Only part of your gift's average annual investment return will fund the scholarship. The remainder will gets channeled back into your fund so that it grows over time.
If income in a certain year isn’t enough to cover the University’s budget, the necessary amount is taken from the pool. If income exceeds spending, the extra money goes back into the pool, increasing its value.
Each endowment is a source of permanent financial support above and beyond the income generated by student tuition and fees. As our endowment grows, so does our strength and stability.
Administrative Fee
A small administrative fee is added to all invested accounts. Our gift officers can explain this in more detail.
Creating an Endowment
An endowment can be created through an outright gift, through a bequest in a will, or through a life income gift such as a charitable gift annuity or a charitable remainder trust.
In order to establish an endowment, you should take the following steps:
- Contact the Office of Development. A gift officer will meet with you.
- The gift officer will ask what kind of scholarship you would like to create and your short- and long-term priorities.
- You'll have a chance to review the various levels of endowment available and the minimum amounts needed to set them up.
- You'll be asked to decide on a planned or an outright gift (e.g. cash, real estate, stock, bonds):
- Outright gifts may be donated or pledged to establish your endowment fund and to help it grow over time.
- Planned gifts (e.g. bequests in your will, a trust, life insurance, retirement plan assets) and/or deferred gifts from life income arrangements (e.g. gift annuities and charitable remainder trusts) may also be used to create your endowment or add to it at a later time.
- The University of Illinois Foundation will prepare a draft agreement outlining the purpose for your fund.
- You'll have a chance to review and then sign the agreement along with a designated foundation official and the appropriate university administrators.
Questions?
We welcome your inquiries. Please use the contact info below.
Scholarships
Creating a Name Scholarship
After You Create a Scholarship
