- What is the difference between an endowed scholarship and an annual scholarship?
- May I name a scholarship?
- May I have input into the selection of a recipient?
- Will I meet my scholarship recipients?
- What is the best way to make my scholarship gift?
- How will the University of Kentucky carry out my wishes?
- What services does UK provide to scholarship donors?
What is the difference between an endowed scholarship and an annual scholarship?
- Endowed Scholarships create a permanent fund. Contributions are prudently invested to ensure the scholarship retains its value in perpetuity, and the scholarships are funded through the income generated by the endowment.
- Annual Scholarships reflect a donor’s commitment to support a scholarship for a specific number of semesters or years. Contributions are usually made and expended in the same fiscal year.
May I name a scholarship?
A donor may name the scholarship when the amount given meets the minimum funding requirements for an annual or endowed scholarship. Scholarships are often named after the donor, or to honor parents, professors or other important people in one’s life. Donors may choose to give to existing scholarship funds in the college or department of their choice.
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May I have input into the selection of a recipient?
Scholarship donors may specify base criteria to be used when selecting the recipient. University representatives from the appropriate academic department use those criteria when choosing student recipients.
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Will I meet my scholarship recipients?
Our staff strives to create opportunities for donors and scholarship recipients to meet. Many donors feel profound personal satisfaction when they meet the students whose education they made possible, and students are often eager to thank and meet their benefactor.
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What is the best way to make my scholarship gift?
There are a number of ways to set up a scholarship: an outright gift may be made via check or credit card. There may be significant tax benefits if the gift is made using appreciated securities, establishing a charitable trust, or giving real property. Will bequests can also be used to create opportunities for students. Our staff can assist you with these options. Please contact Remona Edenfield, Special Programs Officer, rmeden2@email.uky.edu, UK Office of Development, Sturgill Development Building, Lexington, Kentucky 40506–0015, (859) 257–7893, (800) 875–6272.
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How will the University of Kentucky carry out my wishes?
UK Development staff will work with you to create a customized written gift agreement. The agreement reflects the purpose of the scholarship and recipient criteria as determined by you. The agreement outlines the responsibilities of the University in awarding the scholarship.
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What services does UK provide to scholarship donors?
We strive to unite our donors with their scholarship events, to build relationships and let our donors know the impact their giving makes on the lives of student recipients.
- We encourage students to write thank you letters and many colleges host scholarship receptions that bring donors and students together.
- We ensure that the scholarship is used by the university according to the criteria stated in the gift agreement.
- Various stewardship activities take place throughout the University to recognize scholarship donors. Scholarship donors of $25,000 or more will receive a special President's Scholarship Initiative recognition folder with an executed copy of their agreement.