Endowed Named Scholarship: Gifts of $25,000 and larger
Donors of gifts of $25,000 and larger may establish and name an endowed scholarship fund. The amount of annual scholarship funds to be made available through this endowment will be consistent with the Foundation's Spending Policy. The recipient(s) of the Scholarship(s) will be determined by the College's Scholarship Selection Committee. Recipients must have a minimum cumulative GPA of 3.0 and be enrolled full-time to qualify for the scholarship. An endowed fund will carry the name as agreed upon in perpetuity.
Donors who wish to establish an endowed Scholarship, but are unable to do so in a single year, may make an initial gift of at least $5,000, which will be placed in the General Scholarship Fund in their name with a commitment to reach the full amount over a five-year period. If the donor is unable to fulfill the pledge within five years, the accumulated funds will become a permanent part of the General Scholarship Fund.
Newly established named scholarships can be paid in one or more payments within a five-year period. A scholarship will be awarded one year after gifts to the endowment total at least $25,000. This allows the gift funds to be invested and to earn income that can be applied to the scholarship. For example, using the Foundation's spending rate of 4%, an endowment of $25,000 will typically provide a $1,000 scholarship after twelve months, and that award will be made to a student in the academic semester following the twelve-month period. As the pledge is paid, the scholarship will be revalued at the start of each fiscal year.
Endowed Named Distinguished Scholarship: Gifts of $100,000 and larger
Donors of gifts of $100,000 and larger may establish and name an endowed distinguished scholarship fund. A Distinguished Scholarship provides annual support for a student(s) over a four year period. The amount of annual scholarship funds to be made available through this endowment will be consistent with the Foundation's Spending Policy. The recipient(s) of the Scholarship(s) will be determined by the College's Scholarship Selection Committee. Recipients must have a minimum cumulative GPA of 3.0 and be enrolled full-time to qualify for the scholarship. An endowed fund will carry the name as agreed upon in perpetuity.
Donors who wish to establish an endowed Distinguished Scholarship, but are unable to do so in a single year, may make an initial gift of at least $20,000, which will be placed in a separate account in their name with a commitment to reach the $100,000 within five years. If the gift does not reach at least $25,000 within five years, the accumulated money will become a permanent part of the General Scholarship Fund.
Newly established named scholarships can be paid in one or more payments within a five-year period. One or more scholarships will be awarded one year after gifts to the endowment total at least $100,000. this allows the gift funds to be invested and to earn income that can be applied to the scholarship. For example, using the Foundation's spending rate of 4%, an endowment of $100,000 will typically provide a $4,000 scholarship after twelve months, and that award will be made to a student in the academic semester following the twelve-month period. As the pledge is paid, the scholarship will be revalued at the start of each fiscal year.
The President of Stockton College has committed to provide institutional funds to match the interest available annually for scholarships for endowments that reach or exceed $100,000. The match is consistent with the Foundation's Spending Policy, (i.e. 4% of a $100,000 endowed scholarship fund generates $4,000 from the endowment and $4,000 from the College.)
