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) for a specific purpose such as the memory of a loved one or the recognition or support from a local organization.

How are endowments established?

Endowments can be established for a specified purpose by grant contributions directly to our chapter.  An endowment is subsequently initiated where such grants and funds are accounted for individually in terms of accumulating value and distributions.  Local organizations or individuals wishing to benefit from the chapters experience in scholarship management often establish such endowments.  Endowments are also established as memorials in memory of a loved one. A prospective sponsor (donor) is asked to complete an application form (click here) providing information about the intentions for the endowment.

How does an endowment fund work?

Endowment funds works on a simple concept.  Moneys contributed to these funds are awarded interest quarterly.  Scholarship awards are made from an endowment when the value of the fund reaches a level that can sustain at least a $500 award.  On this basis, endowments may not generate a scholarship award each year.  The amount of the award is subtracted from the endowment fund balance whenever an award is made.  The chapter uses strict guidelines in managing endowed funds (available on request).

What is the minimum amount required to establish a fully endowment fund?

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?

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, a minimum of $500 must be accrued each year to make the fund permanent within 10 years.  While the fund is growing to permanent status, no awards will be given.  Some Accumulating Funds reach permanency quickly while others may require the full 10 years to reach permanency.

How does a Fund continue to grow?

A fund grows through interest on the principle and when additional moneys are contributed directly to the fund throughout the year(s).  Additional moneys may also be contributed in conjunction with the Chapter's annual appeal. Memorial funds often receive contributions on anniversary dates.  Or, endowment fund sponsors often make annual 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 the fund and the details can be worked out later.  The chapter will be responsive to the wishes of the family.

Do all moneys contributed for a specific purpose lead to memorial endowments?

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 on 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 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.