Individuals or organizations who wish to provide support for students with financial need or academic talent may be interested in establishing an endowment that will provide scholarships for students. Likewise, support for faculty or student research, funding a lecture series, or any number of worthwhile projects, may be accomplished by establishing an endowment. An endowment agreement is written between you, the donor, and the EIU Foundation to establish and manage the fund in perpetuity.
The minimum amount required to setup any endowment is $25,000 (as of January 1, 2015). Initial and subsequent gifts may be in any increments as long as full funding is achieved in five years.
Your endowment may be funded with cash, equities or some forms of property. It is also possible to have an endowment funded through your estate. In any case, the first step is to have an endowment agreement developed that is acceptable to you and to the Foundation.
The links below will take you to a sample endowment agreement and will give you some initial guidance on what to consider when setting up an endowment. If you have questions, or would like assistance in drafting an endowment agreement for your scholarship or special fund, please write or call the Office of University Development.