Endowment and Scholarship Giving
Endowed funds have been established through the interest and generosity of alumni, parents and friends of Rhode Island College. Some funds honor individuals, some reflect the gratitude of alumni for their years at Rhode Island College, some are demonstrations of admiration for former professors and others reflect a desire to assist the college in continuing to fulfill its mission. These funds are often endowed for the purposes of providing scholarships to students.
Endowment funds are gifts from donors in which the principal 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.
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.
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.