Establishing a Named Scholarship
Establishing a NON-ENDOWED named scholarship or program fund
A named fund requires a minimum commitment of $5,000. Awards are distributed until the funds are exhausted. With this commitment, you can choose to have the fund support all students, or you can select criteria and preferences regarding the students receiving the funds. These include specific areas of study, enrollment status, GPA and other criteria as desired. View the Scholarship Addendum here for full criteria options.
The funds need to be given to the Madison College Foundation prior to any scholarship award. Many donors continue their scholarship with an annual gift to the fund.
Non-Endowed Memorial Scholarships can be established with a gift of any amount. Learn more here.
Establishing an ENDOWED named scholarship or program fund
A named endowed fund requires a minimum of $25,000 as a one-time gift or pledged up to five years. With this commitment, you can choose to have the fund support all students, or you can select criteria and preferences regarding the students receiving the funds. These include specific areas of study, enrollment status, GPA and other criteria as desired. View the Scholarship Addendum here for full criteria options.
With an endowment the Foundation invests the initial gift which generates an annual spend rate that is distributed according to the fund agreement. This scholarship fund will continue into perpetuity. This creates an important revenue source for our students far into the future.
Endowed scholarship funds will continue in perpetuity. The corpus of the scholarship fund will not be invaded and all scholarships shall come from the earnings according to the MCF Board’s distribution policy and UPMIFA guidelines. This rate is currently 4.5% of the average market value accounts, using a three-year (36 month) trailing average. The full $25,000 minimum needs to be given to the Madison College Foundation prior to the fund generating a spend rate. Many donors supplement these disbursements with non-endowed gifts so that students receive the full scholarship amount.
Administration of Scholarships
- Madison College Foundation has a centralized scholarship application portal that automatically matches students with the scholarships for which they qualify. This process is overseen by our Senior Scholarship Director, Ruth Shoup.
- The Foundation works with the college’s Financial Aid office to award scholarships. This process includes an online application and verification of criteria.
- Donors receive scholarship profiles each time their scholarship is awarded.
- Donors are invited to an annual scholarship breakfast.
The first step in establishing a named fund is usually having a conversation. Feel free to call or email Maggie or fill out the interest form on the right and we will contact you.
Get in Touch
Establishing a Scholarship to Honor His Daughter
Cyril Spangler met his sweetheart, Beverly, at a dance in Johnson Creek the week before he left for a station in Korea. When he returned, it seemed everyone had moved away or gotten married, and he decided the bachelor life was for him. One fateful night he ran into Bev at a bar, and by that Thanksgiving they had tied the knot. Together they raised two hard-working daughters, Denise and Donna, who both ended up studying at MATC in the 70s, pursuing health related fields at the downtown campus. Cy and Bev supported their [...]
Art Exhibit Honoring Longtime Academic Advisor
Dzigbodi Akyea was a student advisor at Madison College for seventeen years, most recently in the liberal arts transfer program. She was a calming presence, and many people went to her for advice. She had the gift of making people laugh, and was greatly respected among her peers. Unfortunately, Dzigbodi passed away quite suddenly last September 17, 2021 leaving those who worked with her in shock and grief. She had been a member of the Black Women Affinity Group, which was founded in June of 2019 and meets twice a month. She helped the group [...]