Guidelines for Establishing a
Scholarship
Creating a named scholarship through the Truman State University
Foundation is one way you can assist students and leave a legacy
to Truman State University. It's also a very meaningful way to
honor family and friends.
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Step 1: |
Determine Type of
Scholarship Fund |
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The first step is to determine
whether you would like to establish an "endowed"
scholarship or an "annual"
scholarship:
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Endowed Scholarships
Endowed scholarship funds are designed to be permanent and
perpetual and can be created with gifts totaling a minimum
amount of $15,000, contributed in full at the outset or with
an initial commitment that is added to over time until the
endowment level of $15,000 is attained. The principal of the
fund is invested to produce income, and an annual award is
made to a student/s. The principal remains untouched, so the
endowment can last into perpetuity.
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Annual Scholarships
Annual scholarships can be established with an outright gift
of $1,000. An annual commitment of $1,000 per year for four
years is recommended, and the annual gift is awarded to
recipients over the four-year period. Unlike an endowed
scholarship described above, an annual scholarship is not a
permanent fund and is awarded only as long you (or others)
choose to contribute to the fund.
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Step 2: |
Establish
Scholarship Criteria |
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As a scholarship donor, you
choose the name of the scholarship as well as the criteria. The
Office of Advancement staff is available to help you create the
criteria for your scholarship. Endowed and annual scholarships
at Truman are awarded to deserving students based upon area of
interest, geographical origin, leadership potential, merit,
financial need, academic achievement and/or other criteria.
The Truman State University Foundation must agree to any special
award conditions established by the donor.
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¢ Samples
of Scholarship Criteria
To view
a list
of our existing scholarships where you can click on an
individual scholarship to see its criteria,
CLICK
HERE
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Step 3: |
Administration of Scholarship Funds |
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Typically, a
selection committee carefully reviews the scholarship
applications submitted by students and selects the most
deserving recipient(s) based on the donor-established criteria.
Major contributors
of a scholarship fund are notified annually when the scholarship
recipient(s) has been selected and are informed of the name and
hometown of the recipient, as well as the amount of the award.
Recipients often write a thank-you note to the donor, and in
some cases, the recipient and donor are able to meet.
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¢ Tax
Benefits of Funding a Scholarship
An outright
gift in the form of cash or appreciated securities will
allow you to receive immediate tax benefits in the year
you make the gift to Truman State University. In the
case of appreciated securities, you may also avoid
capital gains taxes.
You can also
provide for your scholarship in your estate plans.
Estate gifts or planned gifts are an easy way to establish a
scholarship without affecting your current income or
assets.
Read more about gift planning |
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Frequently Asked Questions |
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How are Truman State
University Foundation
scholarships named?
The major benefactor of a scholarship establishes the
scholarship name. You can establish a scholarship in your own name
or choose to name it for a friend, family member, organization or a
favorite faculty member.
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How is the selection
criteria established for the scholarship I am establishing?
You can aid in establishing the scholarship criteria by expressing your
intentions for the award. The Truman State University Foundation will draft the
scholarship criteria
according to your specifications and present it to you for your
approval.
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How are Truman State
University Foundation
scholarships awarded?
Foundation scholarships for current students are advertised on the
Truman website and applications are collected online. Typically, a
selection committee carefully reviews each application and selects
the most deserving recipient(s) based on the established criteria.
Foundation scholarships available to incoming freshmen are awarded
by the Admission Office. For more information on these scholarships
visit the
Admission web site.
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Will I receive
notification when a student is awarded the scholarship?
You will be notified annually when the scholarship recipient(s)
has been selected. You will be informed of the name and hometown of
the recipient, as well as the amount of the award and status of the
fund.
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For more
information contact:
Becky
Pike, Manager of Foundation Scholarships, Office of Advancement, McClain Hall
205, 100
E. Normal Ave., Kirksville, Mo. 63501-4221;
Telephone: (800) 452-6678 or (660) 785-4133; Fax
(660) 785-7519;
bpike@truman.edu.
