Did you know that you could make a very significant impact upon Bethany Lutheran College by gifts to scholarship endowments? It is far easier than you might think, and more Bethany supporters are establishing scholarship endowments all the time.
Scholarships accomplish so many things. Most importantly, they make it possible for deserving young men and women to receive a Bethany education. They also help keep the college strong financially. Additionally, establishing a named scholarship at Bethany is a wonderful way to remember a loved one.
The Importance of Scholarship Endowments
Endowed scholarships are funds contributed by individuals or businesses through regular gifts and special contributions, as well as wills and other planned gifts. These funds are placed in special accounts and are invested. Annually, a portion of the income is used for financial aid, while remaining funds are allowed to grow.
Endowed scholarships are crucial to the future of the college. They eventually will protect the college from variations in expenses for financial aid, and thus will continue to make Bethany affordable.
Many who have contributed to such scholarships have experienced the satisfaction of receiving letters from Bethany students who were only able to attend Bethany because of help from others. Endowed scholarships are crucial to our future.
How You Can Establish a Scholarship Endowment
Of Bethany's many endowed scholarships, two are in excess of $1 million, and a few are less than $1000. When a named endowment fund reaches $10,000 it is listed in the catalog and in the commencement program. Some of the largest endowments started out very small.
- Matching makes scholarship funds grow. Organizations will match your gift or a portion of it. Many companies match gifts to educational institutions as well. In all cases, check with your employer for specifics.
- A Pledge may result in an immediate match in some cases, even as the payments on the pledge are being made.
- A Deferred Gift, such as including Bethany in your will, or establishing a gift annuity or trust, will qualify for certain kinds of matching.
- Regular Gifts to a scholarship fund will add up over the years, especially if matched.
To establish a scholarship fund, all you need to do is to decide how to make the first gift, decide how the grants will be made from the fund (usually to students who have financial need), and sign a form. The development office would be happy to send you a sample scholarship form.
You don't have to establish a scholarship fund to make an important difference – you can also direct a gift of any size to an existing scholarship.
For Further Information
For further information regarding contributions toward endowed scholarships, call 1-800-944-3066.