Anyone can establish an endowment, either individually with a group of classmates or family members. Naming opportunities are often desired and create a way to honor an individual, family, or business. Here are some important things to know about how to set up an endowment:
- You can fund them in their entirety immediately.
- You can make a pledge to fund your endowment for up to five years.
- Your endowment can be funded with a future gift through your estate plan.
- You can designate the funding priority for your endowment.
Two very important endowment types are Scholarship Endowments, which support NDSU students, or Faculty Support Endowments, which support facility enhancement at NDSU. The following are some minimum gift amounts required to establish the various Endowment types.
||A scholarship is used to recruit and retain students by providing financial support to help cover a student's tuition, fees, books, and/or room and board.
||An athletic scholarship is used to recruit and retain students participating in athletics at NDSU.
||An endowed chair is the most prestigious named position. This senior exceptional faculty member has achieved the rank of full professor in his/her field.
||An endowed professorship recognizes a gifted faculty member who has achieved the rank of full professor.
||An endowed fellowship recognizes the University’s desire to support scholarly endeavors in teaching and research. Endowment income is used as deemed appropriate by the dean of the college and the appropriate Vice President to support the University’s strategic priorities.
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