Make a Lasting Impact.
Endowed Scholarships are awarded depending upon investment dividends and/or interest earned, on a semester basis. They are occasionally restricted to an academic discipline, a geographic area or other donor-established criteria. (Accounting standards require that the College prudently reinvest all capital appreciation.)
Because they are permanently affixed to Christendom’s asset base, scholarship endowments are gifts that “keep on giving” and, at Christendom, are often named in honor of a family member or other loved one. For example:
- The William J. and Sophia Casey Memorial Scholarship has honored the memory of William Casey (former Director of the CIA) and his beloved wife, Sophia, by sponsoring the Politics Practica at Christendom College since the early 1980’s.
- More recently, the Thomas S. Vander Woude Memorial Scholar-Athlete Scholarship endowment was created to honor a former Christendom Athletic Director, Tom Vander Woude, and to assist students who excel in sports to afford a quality Catholic education.
Establishing an Endowed scholarship
Cash and stock are the most commonly used assets to establish a scholarship. Such a scholarship may be endowed with a minimum gift or pledge of $50,000. After a $20,000 down payment, pledges may be fulfilled with annual installments of up to three years.
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.