An endowed scholarship is a wonderful way to leave a legacy for Lewis-Clark State College — 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 annual distribution.

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 — 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 distant future.
 
How much will be awarded?

The Foundation’s current endowment spending policy makes available for annual scholarship distribution amounts which total 5% of the three-year rolling average of the scholarship fund’s principal balance. The principal balance includes the scholarship fund’s 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.