Named scholarships or special funds provide some of that support. This important financial support makes educational opportunities possible for many students who want to attend St. Kate's.
- Endowed scholarships provide financial aid for students (College for Women, College for Adults and Graduate Programs) into perpetuity. To be most beneficial, language controlling the endowment's distribution should be specific and flexible.
- The donor determines who will benefit: a student in a specific program or major, with financial need or with high academic standing.
Naming a scholarship
- A donor may establish a scholarship in the donor's name or the name of another individual whom the donor wants to honor or memorialize.
- The donor describes the honoree with words that will live on in the University's history. The honoree will inspire the students who receive the award.
- The University encourages the donor to attach a photo of the honoree, scanned or printed, with the honoree's description.
Funding a scholarship
- Currently, a gift of $50,000 will endow a named scholarship. Donors may make a one-time or multiple-year gift to achieve the endowment level. Donors may also create or add to named scholarships through estate gifts.
- The University awards the first scholarship one full year after the fund reaches endowment level.
- Currently, a $500,000 endowed fund generates annual distributions that approximate the cost of one year's tuition, room, meal plan, books and fees for one Undergraduate Day student.
- Currently, a $350,000 endowed fund generates annual distributions that approximate the cost of one year's tuition for one undergraduate day student.
- The original donor or others may make additional contributions to an endowed scholarship with lifetime or estate gifts.
- Donor-restricted endowed scholarship funds are recorded as permanently restricted assets of the University.
The Fund Agreement
- The donor enters into a fund agreement with St. Catherine University. This agreement directs the endowment's management and distribution into perpetuity.
- The original donor of the fund, with the consent of the University, may amend the fund agreement in the future with respect to the scholarship's distribution processes, but the fund may not be changed from an endowed fund.
- The University provides an endowment stewardship report annually to the endowment fund's primary donor. The report contains investment performance of the fund, the beneficiary(ies) who received scholarship assistance from the fund and current news about the University.
- The University recognizes donors who establish endowed scholarships and those who contribute $50,000 by enrolling them in the Mother Antonia McHugh Society.
- The University recognizes donors who contribute amounts less than $25,000 to a scholarship established by another donor as Friends of the Mother Antonia McHugh Society.
- The University records the names of all donors to scholarship endowment funds as donors to the University in its Annual Report for the year in which the gift is received, unless the donor requests anonymity.