Establishing a Named Scholarship

A named endowed fund requires a minimum of $25,000 as a one-time gift or pledged up to three 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.