Endowment and Scholarship Giving
Endowed funds are established thanks to the interest earned on investments that were made possible by generous alumni, parents and friends of Rhode Island College.
Definition of an Endowment
An endowment is simply an investment in the future. When charitable gifts are used to establish an endowment, the gift is invested with two goals in consideration: making the principal grow faster than inflation and providing expendable income for the donor's specified purpose. The principal remains untouched, and any income earned above the annual spending amount is reinvested into the fund to keep it healthy and growing.
Why Create an Endowment?
Endowed Funds can be established to:
- honor individuals
- reflect alumni gratitude
- demonstrate admiration for former professors
- generally assist the college in continuing to fulfill its mission (A new scholarship for a student is often established.)
General Parameters of Endowed Funds
Endowment funds are gifts from donors in which the principle:
- cannot be expended and
- must be invested for income-producing purposes
Income from endowments can be either restricted or unrestricted, based on donor direction. A portion of the income is available to be expended for the agreed upon purpose and a portion may be reinvested to maintain purchasing power. Funds designated by the board to function as endowments may be totally expended at any time at the discretion of the board.
More Detailed Information on Endowments
This additional documentation may assist you if you'd like further information on endowed funds:
More Detailed Information on Foundation Scholarships
Please take a look at the many Foundation scholarships that have been established:
Establish Your Own Scholarship
Do you want to pay tribute to a fellow classmate whom you remember fondly? Do you want to honor an outstanding college faculty or staff member? Contact us today to learn how you can impact Rhode Island College for generations to come.