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Guidelines for Establishing Endowed Funds
1.
Named funds for any approved purpose may be established at
Lenoir-Rhyne University with a minimum gift of $25,000. Pledges may be
fulfilled at the donor’s convenience any time over a three-year
period. An endowment agreement is signed by the donor and the
President of the University.
2.
The amount of revenue earned by a named fund is determined by
the overall earnings of the University’s pooled funds.
3.
Normally, earnings are awarded annually as they accrue in
accordance with the endowment agreement once the fund reaches the
minimum level.
4.
Additional gifts may be added to the fund at any time through
current or deferred gifts, such as will provisions, by the donor or by
other friends and family.
5.
Recipients for scholarship funds are selected by the Office
of Financial Aid using the government-approved financial aid
information. Academic departments and other resources may be used, as
appropriate, in the selection process.
6.
The named fund will be listed in a University publication that
provides descriptions and awarding guidelines of all University endowed
funds.
7.
The recommended time frame for the completion of funding the
$25,000 minimum is three years. Funds that are not raised to the
$25,000 level within the agreed upon time frame become part
of the University’s general endowment.
8.
The University provides annual reports to donors of fund
performance and/or current status.
Currently, named funds are available as follows:
Scholarships
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Full Tuition, Room & Board
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$350,000
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Full Tuition
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250,000
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Named Fund Minimum
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25,000
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Faculty Enrichment
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Distinguished Chair
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$1,500,000
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Endowed Full Professorships
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1,000,000
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Faculty Professional Development
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250,000
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Other Endowed Funds
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Named Fund Minimum
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$25,000
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For information about establishing an endowment or
for information about contributing to an existing
endowment, contact Vickie Eckard, Director of Advancement Services,
at (828) 328-7336 or eckardv@lrc.edu.
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