What is the difference between an annual scholarship and an endowed scholarship?
Donors may establish an annual named scholarship with a minimum balance of $1,000. Occasionally, a donor will give a lump sum and ask that a scholarship be disbursed for a set number of years, or until the fund balance is zero. An endowed scholarship requires a minimum contribution of $20,000, which is invested. Income from the fund is distributed on an annual basis, and the scholarship fund will last in perpetuity.
