There are many reasons why supporters choose to endow a scholarships. Often, gifts in memory of a loved one or in tribute to someone who has had an impact on your life are a great way to provide assistance to Avila’s students. Amounts can vary from family to family but these gifts are used to support one-time scholarships, with the name of the honored person included in the title. We strongly encourage families to call early so that the proper arrangements and instructions can be shared with everyone involved. Make a gift in honor or in memory of a loved one today.
With a minimum gift of $20,000, an Avila scholarship endowment provides a perpetual source of financial assistance for current and future students. With the principal (total gifts) of the endowment invested for long-term growth, a 5%dividend (paid from accumulated earnings) of the fund’s three-year average balance is set aside to fund a scholarship each year. Additional earnings are set aside each year to allow the fund, and thus the scholarship award, to grow each year.
A flexible endowment gives the donor the flexibility of creating an endowed scholarship over a five-year period while having the opportunity to actually see the scholarship in action from the beginning. Using the $20,000 minimum for an endowment as an example, the donor pledges $5,000 a year for five years. Out of each payment, $1,000 is used immediately to fund a scholarship in the amount that will be available after the endowment is fully funded. The remaining $4,000 is allocated to the endowment fund and allowed to grow over time. At the end of the pledge period, five scholarships have already been awarded and the endowment is fully funded. Beginning in the sixth year, the 5% dividend from the endowment now funds the scholarship in perpetuity.
To start the process of endowing a scholarship today, or to learn more, contact Deanna Nelson, senior director of development - major gifts, at 816.501.2435 or email@example.com.
"Avila offered me a warm place to land at a very difficult time in my life. They focused on me and not the schoolwork. They were very supportive and helped my mom, too, because she was comforted knowing I was in such a good place."
- Karen MacLean and Allison MacLean Lawrence'05
Established the C. Douglas MacLean Endowed Scholarship in memory of Karen's husband
and Allison's father.