Scholarship Endowment

A scholarship must be endowed before it can be awarded to deserving students. If you or your group are considering establishing a scholarship, the current minimum endowment is $25,000. It is also possible to pledge the minimum amount over a period of no more than five years.

Contact the Office of Alumni Relations and University Development to learn about how to establish an endowed scholarship and for information on other ways to support scholarships at SUNY Oswego.

Find answers to frequently asked questions below.

What does "endowing a scholarship" mean?
Establishing an endowed scholarship creates a fund in which the principal donation is invested and the interest funds the scholarship award. Thus, the "fund" remains for the College's use in perpetuity and creates a lasting legacy at SUNY Oswego.
BACK TO TOP

What is the minimum dollar amount required to fully fund an endowed scholarship?
Currently, it is $25,000.
BACK TO TOP  

Can the minimum amount be paid over time?
Yes. It is possible to pledge the minimum amount over a period of no more than five years. 
BACK TO TOP 

How can the endowed scholarship be funded?
Funding can occur through outright gifts of cash or appreciated stock, or through a multi-year pledge (no more than 5 years). Also, scholarships can be endowed through a bequest or other charitable giving instruments (e.g. gift annuities, trusts, etc.) You can view a sample agreement. 
BACK TO TOP     

How soon will an award be distributed following the establishment of the endowed fund?
Generally, scholarship awards are available to be awarded after June 30th; one year after the scholarship is fully funded and invested. Generally, during this period, earnings accumulate, thus ensuring that the desired monetary award level will be available for distribution.

An exception is made if the donor wants the scholarship to be activated sooner and elects to make a separate ("current use") gift equivalent to the desired amount. In the meantime, the endowed fund is accumulating earnings for an award one year hence.
BACK TO TOP     

How will the award funds be distributed?
The annual award will be based on interest applied, less any applicable fees, in accordance with the Oswego College Foundation, Inc. Board policies. The Foundation's Board of Directors reviews its endowment spending rate annually. As of June 30, 2005, awards were based upon 4% of the funds 12 quarter rolling average account balance.
BACK TO TOP     

How are the funds invested?
Endowed funds are invested in accordance with the Oswego College Foundation, Inc. Investment Policy and Procedures. These investments are overseen by the Foundation's Investment Committee which meets as least quarterly, as well as its Board of Directors. Copies of the Foundation Investment Policy are available upon request.
BACK TO TOP     

How is the endowed scholarship named?
By the donor, in consultation with the Office of Alumni Relations and University Development. Some options:
• In honor of an individual or family member (living/deceased)
• In honor of a couple - one or more may be deceased
• In honor of the donor himself/herself
• In recognition of a business or organization
BACK TO TOP     

Who determines the parameters or the restrictions?
The donor, in consultation with the Office of Alumni Relations and University Development.
BACK TO TOP  

Is this a charitable gift tax deduction?
Yes, the Oswego College Foundation, Inc. is a not-for-profit 501 (c) (3) tax-exempt status. All charitable contributions to the College are tax deductible commensurate with the donor's individual tax situation. Donors should consult their tax preparer to determine deductibility of individual gifts.
BACK TO TOP  

Is there a contractual agreement?
Yes. The signed agreement reflects pertinent information regarding institutional policy on endowed scholarships, the name of the scholarship, how funds are to be distributed, and specific criteria, terms and conditions relating to the award and the College's stewardship commitment. View a sample here.
BACK TO TOP  

Does the College inform a donor about the status of his/her endowed scholarship fund periodically?
Yes. The College is committed to "stewarding" endowed scholarship funds. Each year the Office of Alumni Relations and University Development sends each scholarship donor a Stewardship Report indicating the endowed fund's contributions and disbursements, as well as appropriate information about the student(s) receiving the award(s). Opportunities in which student scholars can meet their respective benefactor(s) are encouraged and arranged when possible.
BACK TO TOP  

Are endowed scholarships publicized?
Yes. If the donor agrees, a press release is sent to local print media. If applicable, information may be sent to the respective high school counselor(s). The scholarship will be listed with all other scholarships that are available to SUNY Oswego students in the Scholarship Newspaper and on the college website. The Office of Alumni Relations and University Development encourages individual donors to be featured in college publications. It is a highly visible venue for acknowledgment and a way to inspire other friends and alumni of SUNY Oswego to make a similar commitment. If, however, a donor prefers to keep a low profile or remain anonymous, his or her wishes will be honored.
BACK TO TOP     

Who do I contact for additional information?
Please e-mail the Office of University Development, 219 Sheldon Hall, Oswego, NY 13126 or call 315-312-2258.
BACK TO TOP