Annual Scholarships Help Christendom Students
Annual Scholarships generate timely student awards from principal and/or interest and dividends earned. Though not part of Christendom’s asset base, annual scholarships may extend several years – depending upon market return, donor gift restrictions and additional gifts. The most popular by far are Christendom’s own annual scholarships, the Presidential Scholarships.
Establishing an Annual Scholarship
Cash and stock are most commonly used to establish an annual scholarship. Christendom requires a one-time gift of $10,000 to establish a named annual scholarship. Other gifts to Christendom that are designated to help with student tuition expenses support the Presidential Scholarships.
Does Christendom accept federal subsidies?
No. Though (or perhaps “because”) Christendom has never sought and does not accept Title IV federal government subsidies, over $10,000,000 in restricted gifts has been invested in Christendom by private individuals across the nation.A substantial proportion of these gifts, held in prudently managed endowment assets, were donated in loving memory of husbands & wives, teachers, philanthropists, and other special people.
May I place restrictions upon my Christendom scholarship?
As long as gift restrictions are compatible with the mission of Christendom College, donors may restrict designated scholarships (at the time of the gift or pledge) by:
- merit (e.g. a minimum GPA);
- financial need (only the College’s need analysis is used);
- academic program (e.g. Philosophy majors only); or
- student class (e.g. Seniors only).
When considering an endowed scholarship, a good “rule of thumb” is that the more general the donor restriction, the more likely the scholarship will qualify for tax deductibility.
When are scholarships awarded? How are the donors acknowledged?
At timely intervals during the academic year, the Financial Aid Office publishes a call for scholarship and financial aid grant applications, which begins the qualification process. Incoming and returning students seek to match their needs with donor restrictions or may simply qualify (according to Christendom’s financial aid standards) on a merit or need basis.
Scholarship winners are published annually in the autumn edition of our quarterly news journal, Instaurare or in the College’s Honor Donor Roll, alongside a request for prayers on behalf of the donors and their loved ones.
In fact, once scholarships are awarded, student awardees are encouraged to spiritually “adopt” the person honored by his or her scholarship for at least the term of the scholarship award, to pray daily for their benefactor(s).
Furthermore, Christendom celebrates Mass annually – on a date suggested by the benefactor – in the campus Chapel of Christ the King specifically for the repose of the soul of the person honored by the scholarship.
Finally, scholarship donors are invited to and are acknowledged at appropriate Christendom donor recognition events, such as the President’s Council Visit Weekend, typically held each academic year in the fall.