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Establishing the Agreement The process for establishing an endowed fund with the Shepherd University Foundation (SUF) is simple and designed to follow the donor's wishes. Simply stated, a written agreement outlining the donor designated award criteria is signed by the donor and the Shepherd University Foundation president.
Funding the Endowment Effective July 1, 2006, an initial minimum gift of $25,000 endows the fund into perpetuity. The donor may also choose to take up to 5 years to accumulate gifts totaling a minimum of $25,000. Additional donations to the fund may be made at any time. The endowment may also be funded with a deferred gift through a bequest or other planned gift such as naming the SUF as the beneficiary of a trust, annuity, or life insurance policy. Income The Shepherd University Foundation will guarantee that income from the fund will be used only as directed in the written agreement. Income to support each year's award is distributed annually as of June 30 based on the investment portfolio's total return for the previous fiscal year.
One-time Fee The full amount of any gift to create a fund is endowed. Gifts to endow named funds and gifts to increase existing endowments will be charged a one-time fee of 2.5 percent of the amount of the gift to be paid from the first income distribution made to the endowment. Subsequent income earned by the endowment will fund a lasting legacy to encourage and support generations of Shepherd students.
Award Criteria Donors may specify that awards are made to students or in support of named programs of study. Typical scholarship criteria specified include grade point average, class rank, major area of study, residency, and full- or part-time status. Donors do not select the recipients but rely on the established campus procedures followed by the Scholarship and Financial Aid Committee. Criteria may be changed by written mutual agreement of the donor and the Shepherd University Foundation.
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