New Challenge Match to Boost Scholarship Support
The matching challenge is targeted at increasing merit-based scholarships that will allow the university to attract exceptional students with high academic potential.
How It Works
- Gifts of $25,000 or more are used to create a new scholarship endowment that meets program qualifications for Presidential and Trustees scholarships.
- Once an endowment account receives gifts of at least $25,000, a distribution of an equal amount (up to the pre-committed amount) will be deposited to the endowment account. If additional gifts are subsequently received, distributions will match the gifts up to the total amount precommitted for that endowment.
- Presidential and Trustees scholarships can be earmarked specifically for students in the School of Electrical and Computer Engineering (or for other schools and departments.)
Double Your Impact
Currently, Purdue pays out approximately 4.5% of an endowment's market value annually. A typical $25,000 scholarship endowment would provide approximately $1,125 annually. Through this match program, the amount available every year for student scholarships would be approximately $2,250—about a 9% payout based on the amount of the original gift. Impact is doubled.
- Several individuals may work together to make a gift of $25,000 or more and be eligible for the match.
- Employers' matching gifts are allowed to help establish the endowment and are eligible for the challenge match.
- Pledge commitments must be paid within five years.
- A maximum of $5 million will be allocated for the match and the match will remain in effect until the funds are committed.
- The scholarship may be named for the donor or someone the donor would like to honor.
- Gifts of $25,000 or more qualify a donor for lifetime membership in the President's Council (Gateway level), which recognizes the University's most generous benefactors.
For More Information, Contact:
- Margarita Contreni (765) 496-6453, email@example.com
- Laura Sloop (765) 494-9945, firstname.lastname@example.org