Policy on Endowed Funds

Revised September 2005

Download the Policy on Endowed Funds PDF format

DESCRIPTION

An endowed gift is one in which the original principal is never invaded; the gift exists in perpetuity. Endowments generally are funded within five years of the initial contribution. Income is distributed annually. There is no minimum limit for donating gifts to already existing endowments (including the University's Unrestricted Endowment Fund), but the following schedule lists the requirements for establishing new endowments.

SCHOLARSHIPS

General Requirements for Scholarships:
All students who apply for freshman admission to Winthrop are automatically considered for scholarships. The minimum criterion for scholarship consideration is an1200 on the SAT or a 27 on the ACT and a grade point average of3.5 (4.0 scale) in academic courses for incoming freshman. Scholarships are administered by the Office of Financial Aid.

Awards are based on the minimum endowment amount of the category in support of one student per year. Each endowment criteria and uses are determined by the donor's preference at the time the scholarship is established.

Winthrop Scholarship (Full Tuition, Room and Board) - $250,000 and above
Recipients are selected on the basis of their academic accomplishments. The scholarship is available for eight semesters of undergraduate study by maintaining a minimum cumulative 3.2 GPA.

Trustee Scholarship (Full Tuition and Board) - $150,000 to $249,999
Recipients are selected on the basis of their academic accomplishments. The scholarship is available for eight semesters of undergraduate study by maintaining a minimum cumulative 3.2 GP A.

Founders' Scholarship ($3,500 per year) - $125,000 to $149,999
Recipients are selected on the basis of their academic accomplishments. The scholarship is available for eight semesters of undergraduate study by maintaining a minimum cumulative 3.0 GPA.

Alumni Honors President's Scholar Award ($1,500 per year) $50,000 to $124,999
Recipients are selected on the basis of their academic accomplishments. The scholarship is available for eight semesters of undergraduate study by maintaining a minimum cumulative 3.0 GPA.

Endowed Scholarship (partial Tuition) $25,000 to $49,999
Recipients are selected on the basis of their academic accomplishments. The scholarship is available for eight semesters of undergraduate study.

FACULTY

Named Chairs $1,000,000 and above
In addition to the salary supplement provided for the incumbent, income from these funds provides additional support for a professor's teaching and research, including but not limited to equipment, library resources, academic leaves, research assistants, and travel.

Named Distinguished Professorships $500,000 to $999,999
In addition to the salary supplement provided for the incumbent, income from these funds provides additional support for a professor's teaching and research and for library resources.

Named Faculty Development Funds $250,000 to $499,999
Income from these funds support the work of faculty members as they develop courses, strengthen teaching, and engage in research and other professional activities.

Named Visiting Professorships $250,000 to $499,999
Income from these funds enables the University to bring outstanding visitors to teach, do research, and be available as resources for the whole University community.

Named Term Professorships $100,000 to $249,999
Income from these funds provides supplemental salary support plus funds for work by the incumbent in support of teaching and research. Recipients of endowed term professorships are named to these positions for a period normally not exceeding five years.

LECTURESHIPS

Named Lectureships $25,000 and above
Income from these funds supports expenses associated with special guest lectures.

FELLOWSHIPS

Presidential Fellowships $150,000 and above
Income from these funds supports outstanding students in graduate or professional school programs. Income may be used for tuition, living expenses, and other special expenses incurred in the course of graduate or professional study.

Named Fellowships $100,000 to $149,999
Income from these funds supports awards to students in graduate or professional school programs and is used to assist with expenses incurred in the programs of study.

LIBRARY

Named Library or Book Funds $25,000 and above
Income from these funds supports acquisitions of books and other materials in a particular field or may be used at the discretion of the chief librarian.

SPECIAL FUNDS

Named Endowment Funds $15,000 and above
Income from these funds provides unrestricted or restricted support to particular programs or departments. This category does not apply to scholarships.

Non-endowed funds may also be established for special situations. Monies for such funds are expended upon receipt and are not placed in endowments. These funds terminate when all the resources are spent.

Winthrop University Foundation
Phone: 803 / 323-2229
Fax: 803 / 323-4550

302 Tillman Hall
Rock Hill, SC 29733, USA