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How to Establish a Scholarship

General overview
If you are interested in establishing a new endowment, increasing an existing fund or establishing a second endowment for another purpose, a representative from Shippensburg University Foundation will visit with you to discuss your objectives and help you develop criteria for the endowment.  A gift agreement or Letter of Intent is then created to record your intent, ensure compliance and consistency, and to provide a permanent record of your wishes and the SU Foundation’s acceptance of those wishes.  You may choose to designate the income from the fund for a specific purpose or may leave that up to the discretion of the SU Foundation.

A scholarship established through an endowment fund will be providing a permanent source of scholarship income for the benefit of students at Shippensburg University.  There are different methods and level of payments that are designed to produce the desired award level or payout for a given scholarship.

A One Time, Single, Payment
A scholarship may be established through an outright gift equal to the amount needed to initiate the annual scholarship award.  The first use of the endowment fund will occur after earned income has accumulated for one year.  Additional contributions may be made to the principal at any time. 
The table below demonstrates the amount of annual income produced by a particular Endowment.  These figures are based on investment results for the current Fiscal Year (July 1, 2016 – June 30, 2017).

Endowment Gift                   Amount of Award
$197,500                                 $8,430 - Full Tuition Award
$98,750                                   $4,215- Half Tuition Award
$37,500                                   $1,500 Award
$25,000                                   $1,000 Award

Multiple Annual Payments
A scholarship may be established by making multiple annual payments.  For example: 
annual gifts of one-fifth (1/5) of the full endowment and award costs for five years, until full funding is attained.  The table below demonstrates the amount of annual income produced through establishing an endowment over five  years.

Endowment Gift                  Amount of Award
$48,870                                  $8,430– Full Tuition Award
$24,350                                  $4,215 – Half Tuition Award
$9,070                                    $1,500 Award
$6,125                                    $1,000 Award

The 5-year plan includes one-fifth of the funds needed to endow the scholarship, plus one annual award for each of the 5 years, until full funding is achieved.

  Shippensburg University Foundation