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.
Step 1:
Determine
Type of Scholarship Fund
The first step is to determine
whether you would like to establish an "endowed"
scholarship or an "annual"
scholarship:
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.
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.
Step 2:
Establish Scholarship
Criteria
As a scholarship donor, you
choose the name of the scholarship as well as the criteria. The Office of Advancement 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.
CLICK
HERE to view list of Existing Scholarships (click on different scholarship funds to see
samples of various criteria)
Step 3:
Administration of Scholarship Funds
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.
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 are an easy way to establish
a scholarship without affecting your current income or
assets.
How are Foundation scholarships
named and how is the selection criteria established?
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, or a favorite faculty member. You also aid
in establishing the criteria by expressing your intentions for the
award. The Foundation will draft the criteria according to your
specifications and present it to you for your approval.
How are 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
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.
For more information
contact:
Becky Pike, Office of Advancement, McClain Hall
100, 100 E. Normal St., Kirksville, Mo. 63501-4221; Telephone: (800)
452-6678 or (660) 785-4133; Fax (660) 785-7519;
bpike@truman.edu.