Establishing a Named Scholarship

Spelman College offers the following options for establishing a named scholarship fund:

Minimum Funding Requirement - $5,000
Donor Establishes Scholarship Name and Selection Criteria
A named annual scholarship provides a designated amount as an annual award. The donor contributes annual funding for the scholarship or contributes funds in a lump sum to make awards for a specified period.
The donor is expected to fund the award within one year of the initial payment. A three-year funding renewal commitment is requested.
Gifts to renew the scholarship must be received by June 30 of each year in order to be budgeted for the fall semester.
Funding must be received by September 30 for funds to dispersed in the Fall semester.

Minimum Funding Requirement - $50,000
Donor Establishes Scholarship Name and Selection Criteria
A named endowed scholarship provides a permanent funding base from which scholarships can be awarded. Gifts to the endowment are held in perpetuity and the corpus is invested according to the College’s Endowment Investment Policy.
A newly established endowed scholarship must be held in the endowment fund for a period of one year, prior to being awarded in the fall semester.
The corpus is phased in over a four-year period and distributions are made from the endowment earnings as calculated using the College’s “spending rule” which is currently 5.25 percent. Any remaining earnings are reinvested in the fund to help assure continued growth.