Perpetuate Your Organization or the Name of a Loved One by Creating an Endowment

Woodbury Scholarship Fund Dollars for Scholars^® is organized to manage endowment funds of various types and thereby acts as an umbrella organization on behalf of the community.  An endowment is a means of perpetuating scholarships (to qualified students) in the memory of a loved one or the recognition and support from local organizations.

How are endowments established?

Anyone interested in creating an endowed scholarship can contact us to express their interest. The prospective sponsor is asked to complete an application form (click here) providing information about the intentions for the endowment, the intended recipient criteria and the level of funding proposed. Our Endowments Chairman would be happy to assist in creating an endowment customized to a sponsor's wishes.

How does an endowment fund work?

Endowment funds works on a simple concept. A sponsor makes an initial donation to their fund where it is accounted for independent of all other accounts. The principal, additional contributions and any earned interest are accumulated in this account. Annual student awards can be initiated when the balance reaches a level that can sustain regular scholarships from interest alone. Contributions totaling at least $5,000 are required to establish a fully endowed fund.

Does the minimum $5,000 have to be donated all at once?

No. Endowments can be established over an extended period. Arrangements can be made with the chapter to start an "Accumulating Fund." To achieve "Accumulating Fund" status, $500 must be accrued within 6 months of the fund being established. Thereafter, additional donated funds must be accrued to make the fund permanent within 10 years. While the fund is growing to permanent status, no awards will be given.

How does a Fund continue to grow?

A fund grows through interest on the principle and when additional contribution are made directly to the fund.  Additional contributions may also be made in conjunction with the Chapter's annual appeal. Memorial funds often receive contributions on anniversary dates.  Endowment fund sponsors often make annual, supplemental grants. Some endowment sponsors hold their own fund raising activities to help their funds grow.

How are Memorial Funds established?

Memorial funds are established in the name of a loved one, often at the time of bereavement. It is not necessary to contact the chapter immediately.  At the request of the next of kin, the funeral director will include in the obituary notice "Contributions may be made to the (Name of the person being memorialized) Fund, Woodbury Scholarship Fund Dollars for Scholars, P.O. Box 716, Woodbury, CT 06798".  This will quickly notify family and friends of the interest in setting up a fund.  The chapter will be responsive to the wishes of the family at a time of their convenience.

Will moneys contributed for a specific purpose lead to an endowed scholarship?

Not necessarily.  If the total contributions for a specific purpose amount to $500 or more, and there is no desire to establish a Fully Endowed Fund (or, if the total contributions received are less than $500 and there is no interest in creating an Accumulating Fund) moneys can be used to make a direct scholarship award at the discretion of the sponsor(s).

Does the chapter accept specific contributions other than for endowments?

Yes.  A contribution to the chapter in honor of individuals or from a local organization for special occasions is always appropriate. These funds will be pooled with other contributions for unrestricted scholarship awards.

Who acknowledges contributions to funds?

An acknowledgment is made for contributions of $25 or more and, unless requested otherwise, the name of all contributors is sent to the sponsor of the endowment.

Who can I contact if I have further questions?

For more information about establishing an endowment, contact us at INFO@wsfund.org or by mail at PO Box 716, Woodbury, CT  06798. Please be sure to include a telephone number where you can be reached if necessary.  A representative of our Endowment Committee would be pleased to provide more detailed information.

What if I wish to contribute to an established endowed fund now?

Make Checks payable to: "Woodbury Scholarship Fund Dollars for Scholars" and simply write the specific fund name in the memo corner of the check.  Send checks to: Woodbury Scholarship Fund Dollars for Scholars, PO Box 716, Woodbury, CT 06798.  You may also click "Donate Now" on our main menu.