Endowing a Scholarship or Program
An endowed scholarship is a wonderful way to leave a
legacy for Lewis-Clark State College ó a legacy that
will last virtually forever. An endowed scholarship
is one in which a principal amount is contributed
and held in perpetuity to support the purposes of
the endowment. Only a portion of the interest and
earnings are spent each year. The principal of the
fund remains inviolate.
How much does it cost?
The minimum amount to establish an endowed
scholarship with the LCSC Foundation is $10,000. The
principal may be established with a gift of cash or
appreciated securities, or through bequest. Additional gifts may be made to the scholarship fund
at any time and may be designated by the donor as
additions to the principal or supplements to the
What does it entail?
Endowing a scholarship is a fairly simple process
and involves the completion of two forms. The first
establishes the guidelines of the scholarship ó what
type of student will be eligible to apply. The
second confers responsibility of managing and
investing the endowment to the LCSC Foundation.
What should be considered?
As endowed scholarships by their nature are
enduring, and because the one thing the future will
surely bring is change, it is important for the
guidelines establishing the purpose of an endowed
scholarship to be as inclusive as possible. Those
interested in setting up an endowed scholarship are
encouraged to meet with the Director of College
Advancement early in the process of establishing the
scholarship. Our staff can help design a scholarship
that appropriately reflects the wishes and interests
of the donor while keeping the scope of the
scholarship broad enough to remain useful into the
How much will be awarded?
The Foundationís current endowment spending policy
makes available for annual scholarship distribution
amounts which total 5% of the three-year rolling
average of the scholarship fundís principal balance.
The principal balance includes the scholarship
fundís undistributed earnings that have been
converted to principal. Undistributed earnings of
the scholarship fund are converted to principal on
June 30th of each year. Funds available for
scholarship distribution are calculated on June 30th
in the year prior to the award.