Endowment Report 2017
Named Endowed Scholarships
This is the center of Fordham Prep’ s endowment target: the creation of additional named endowed scholarship funds. The availability of additional tuition scholarships will make the difference between a student’ s attending Fordham Prep— or even applying— and never having the opportunity to live the Prep experience.
Endowing a scholarship at Fordham Prep is the single most significant and effective gift you can make to our endowment. It has long been a practice of the school to have each scholarship recipient write a personal letter of thanks to his benefactor each year. We want each award holder to understand and appreciate what is being done on his behalf.
A Named Endowed Scholarship Fund— providing a permanent tuition scholarship— can be titled for an individual, family or organization. A portion of the earnings from a scholarship endowment fund provides revenue for tuition scholarship support.
In order to endow a full or partial tuition scholarship fund, these are the requirements.
• Full Tuition Scholarship: $ 500,000
• Three-Quarter Tuition Scholarship: $ 375,000
• Half Tuition Scholarship: $ 250,000
• One-Quarter Tuition Scholarship: $ 125,000
Fully capitalized endowed scholarships are one of the most prestigious awards that the Prep can make to a student. Only those who give evidence of abiding financial need and certified academic promise can be the recipients of funds from one of the Prep’ s fully endowed scholarships.
We are aware that most donors are not able to underwrite such a large amount. There are various other important ways of helping to fund student aid.
• An individual, family or organization can create a named endowed fund with a donation of $ 25,000 or more. Additional contributions to the principal may be made in ensuing years.
Additional Endowment Opportunities
• Professional Development An individual, family or organization may choose to provide funds in order to subsidize faculty or staff participation in workshops, attendance at conferences, or undertake various courses of study.
• Technological Enhancements An individual, family or organization may opt to provide funds so that the Prep can explore advances in classroom and learning technologies( e. g., updates to hardware, software, etc.) that might otherwise not be possible through regular operating funds.
• Christian Service Program An individual, family or organization may decide to provide funds for student groups to undertake various service opportunities in the local community, to support service immersion trips or explore other service opportunities at large.
• Special Designations An individual, family or organization may, in conjunction with the school, elect to design and underwrite a special academic program, a speaker’ s series, a student prize or award, or provide for a specific extracurricular or athletic program need.
Memorandum of Agreement
The Prep ensures sound stewardship of every named endowment fund through a Memorandum of Agreement that expresses the donor’ s and the Prep’ s intent. Unless stated otherwise when the gift is established, a fund can be left open to future gifts from you or others who choose to support the fund. All gifts received for restricted endowment purposes will be accepted only on the condition that, should the purpose for which the funds are gifted cease to exist, the President in consultation with the Board of Trustees may allocate the income from those funds to a purpose as closely aligned to the original intent of the donor as reasonably possible.
• We welcome contributions and pledges of any amount to an existing scholarship endowment fund. A donor who adds to an established fund can enjoy the satisfaction of knowing that his or her gift will help students well into the future.
• Gifts to endowment may be pledged and paid over a period of up to five years.
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