Create An Endowed Scholarship

An endowed scholarship creates a lasting impact in our community, as it will continue helping students indefinitely. Endowed scholarships are established with a gift of $50,000 or more, which is carefully invested and managed by the SLCC Foundation Board. Scholarship awards are made from a portion of the interest earned from the fund, which allows for the scholarship endowment to grow substantially over the years. The SLCC Foundation currently stewards 45 treasured scholarship endowments that help hundreds of students each year.

Below is a list of ways you can customize your scholarship endowment. Please keep in mind that this endowment will live at SLCC indefinitely and take care to select criteria that are broad enough that the SLCC Foundation will be able to award it throughout the changes that are sure to come with the future.

  • Area of study
  • Background:
    • First generation to attend college
    • Single parent
    • From a specific area high school or home county
    • Military service/Veterans
  • Dedication to community service
  • Financial need
  • GPA
  • Letter of Recommendation
  • Preference given to students with a specific business affiliation

The SLCC Foundation will help you build your scholarship criteria to ensure a significant pool of candidates is available.

There are several different ways to create an endowment legacy at SLCC:

  • Make a gift of $50,000 or more. We will invest the funds and begin making scholarship awards according to your wishes after one-two years of gaining interest.
  • Pledge to build up an endowment fund over time. A pledge can be whatever you feel most comfortable contributing each year.
  • Making a bequest to SLCC, which is the most frequently used method of creating an endowed scholarship. Many people choose to build their legacy during their lifetime, setting aside a percentage of their estate for a scholarship endowment.

Enter your initial gift amount and see how your endowment could grow over time and the award amounts projected for each year.

$ OVER YEARS
End of Year Donation 6% Earnings Available for Scholarship
(Assuming 4% board approval)

IMPORTANT: *IMPORTANT: The results provided by the Endowment Calculator are intended for illustrative purposes only and are not guaranteed. The illustration should not be relied upon nor deemed as endowment fund advice. The investment projections, outcomes and other information generated by the Endowment Calculator are hypothetical in nature, are based on SLCC Foundation investment goals and policies, and do not reflect actual investment results. Results may vary with each use and over time; they are not guaranteed of future results. Projections assume annual return of 6% and an annual distribution rate of 4%.

The timeline of a new endowment can vary based on the date of your initial gift. The SLCC Foundation requires a minimum of 12 months of investment growth before a scholarship can be awarded from the endowment earnings. After the initial 12 months of growth, your scholarship will be added to the next scholarship application cycle. This means that it could be two years before the first scholarship can be awarded from your endowment earnings. For this reason, we encourage donors to set aside an additional scholarship gift that can be awarded to student(s) during the first two years while the endowment gains interest.

Ready to get started? Contact the SLCC Foundation.