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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