SUPPORTING STUDENT-ATHLETES THROUGH ENDOWED SCHOLARSHIPS
Utah State Athletics currently has 40+ named endowments, most of them funding scholarships. Endowments can be set up to fund specific positions (Quarterback, Point Guard, Libero, etc), specific sports (Football, Golf, etc) or can be very general (Any athlete from the state of Utah). An endowed scholarship provides tuition and other assistance that is permanently paid for with the revenue of an endowment fund specifically set up for that purpose. Endowed scholarships offer an unparalleled opportunity to chart a more certain course for Aggie Athletics by assisting talented student-athletes attend Utah State. For many, scholarships make the critical difference in completing their degree. Simply stated, scholarships change lives and help students realize their potential through education.
A gift of $25,000 will create an endowment that may carry your name, the name of a parent, loved one, etc.
A gift of $100,000 will provide a full in-state tuition undergraduate scholarship annually.
A gift of $250,000 will provide an in-state "full ride" scholarship.
A gift of $400,000 will provide an out-of-state "full ride" scholarship.
Note: As of the fall 2010, the names of all named Athletic Endowments and Endowed Scholarships are permanently listed in the Dr. Randall and Julianne Stockham Student-Athlete Academic Hall of Honor on the third floor of the Jim and Carol Laub Athletics and Academics Complex. The Athletic Development staff will work with you to develop a gift agreement describing how your gift is to be used in perpetuity. While many donors choose to initially fund an endowment at the minimum level or higher, the donor has up to three years to build the endowment to a minimum of $25,000 once a gift agreement has been signed. For more information contact Sr. Associate Athletic Director Kent Stanley at 435-881-7027 or email@example.com.
HOW ENDOWMENTS WORK AT UTAH STATE UNIVERSITY
Utah State University offers many opportunities for establishing and naming endowment funds. The endowment created by your gift to Aggie Athletics will be managed according to Utah State University's endowment policies, which are designed to provide sufficient current funds from each endowment while ensuring the long-term viability of the endowment.
While the policies may be adjusted over time to respond to changing circumstances, the current procedure can be summarized as follows: the corpus of the endowment (the original gift amount) is placed in a named account and invested with the rest of the university's long-term funds. At the end of each fiscal year, the Director of Athletics expends 4% of the total value of the endowment for the scholarship. 1.5% of the value is retained by the university to fund the process of managing and raising charitable funds. Any return greater than 5.5% is retained in the endowment as appreciation to build the endowment over time.
Utah State's endowment and investment policies are determined by the Vice President for Business and Finance, in consultation with the volunteer Board of Directors of the USU Development Foundation. The policies are reviewed regularly to ensure that they meet the objectives and are consistent with best practices at other universities. By setting minimum gift levels for certain types of endowments, USU ensures that sufficient income is available annually to support their designated purpose.
Endowments may be named for the donor or, if the donor so chooses, in memory or honor of someone special, such as a relative, friend, coach or faculty member. Working in coordination with the Utah State University Foundation and in compliance with NCAA rules regarding financial aid for student-athletes, we work with each donor to determine the area of interest they wish to support within the Athletic Department. This may be a particular sport, recruiting efforts, equipment, travel or scholarships for student-athletes.
Gifts to an endowment are tax-deductible. We advise working with a tax consultant to maximize your charitable gift deductions.
For more information contact Sr. Associate Athletic Director Kent Stanley at 435-881-7027 or firstname.lastname@example.org.
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