What are endowed scholarships?
Endowed scholarships help students who meet the academic requirements for admission to William Woods University and who desire to attend, but need financial assistance to do so.
Who should consider establishing an endowed scholarship?
A donor may choose to start an endowed scholarship to honor a loved one in perpetuity. The minimum amount for an endowed scholarship at WWU is $10,000. A fund may be started with a lesser amount, but the donor must donate $10,000 total within five years for the fund to be endowed. Once the scholarship fund has reached endowed level, the principal is invested and the interest is used to award scholarships. An endowed program, professorship, or chair, for example, operates the same way. The principal is invested, and the interest helps pay for the program, professorship, or chair in perpetuity. These funds are often named to honor the donor or someone the donor designates.
Benefits and ways to participate in the establishment of an endowed scholarship
These scholarships work according to the same principals as William Woods University's general endowment:
- Your scholarship gift to the William Woods Endowment Fund provides support year after year.
- You (or others) can continue to add to an endowment fund, providing more principal.
- that will earn more interest that will help to achieve your giving goals.
- The principal (your initial gift) is never spent. Only the income generated from the investment earnings is used to support the designated purpose of your gift.
- Endowment Fund contributions are listed in the annual Donor Honor Roll in The Woods magazine.
- Gifts to WWU, a 501(c)(3) nonprofit, are tax-deductible to the extent allowable by law.
For information regarding endowed scholarships,
contact Peggy McGrew at 573.592.1128 or Peggy.McGrew@WilliamWoods.edu.