Endowed Scholarship Funds
The opportunity to attend nursing school at the University of Oklahoma has changed thousands of lives. Increasing scholarship support is important because scholarships change lives of deserving people for generations to come.
Unfortunately, the cost of attending nursing school is on the rise. Between tuition and books, many students are finding it difficult to further their education. This is where an Endowed Scholarship fund can help.
Endowments are developed through the DRH Health Foundation with a Communities Foundation of Oklahoma agreement that sets forth the donor's wishes. The charitable gift to fund the endowment can be paid out over multiple years.
Endowment funds are carefully invested to generate annual earnings. Each year, earnings of 5 percent are distributed in accordance with the wishes of the donor.
In determining the amount of the endowment, a donor should consider how much the endowment principal would generate each year and the amount needed annually to fund the donor's desired program, such as scholarships, facilities, or other areas.
If you want to establish a scholarship that will generate $1,000 each year, you will need an endowment of $20,000. Here's how to calculate it:
$20,000 endowment principal
X 5 percent
= 1,000 a year in interest income
For more information about establishing an endowed scholarship fund, please contact Cyndi Crook, Director, DRH Health Foundation at (580) 251-6640 or email@example.com.