Create a scholarship at the University of Minnesota Morris
Scholarship gifts to the University of Minnesota Morris are made by donors—alumni, faculty, staff, friends, corporations and foundations—with a common desire to support students at the Morris campus. Many donors create scholarships to honor a loved one or leave a lasting legacy.
Donors have three options for creating a named scholarship at UMN Morris.
A named, endowed scholarship is a lasting tribute that serves as an investment in students of today and leaders of tomorrow. Gifts to the Morris campus designated for endowment are held in perpetuity by the University of Minnesota Foundation. The principal is invested, and a portion of the earnings generated by the investment is used each year to support the scholarship. The minimum initial gift for establishing an endowed fund is $25,000, payable over up to five years. A $25,000 endowed fund currently provides an annual payout of 4.5 percent, generating approximately $1,125 in scholarship award per year. Endowment gifts may be cash, stocks, bonds, treasuries, mutual funds, real estate, or personal property and may include employer matching gifts.
Donors may determine the criteria for choosing student recipients and can designate a particular area of study, a specific geographic region, or a certain class year, etc. (institutional approval required). The goal is to reflect each donor's values and interests while keeping the criteria as broad and competitive as possible.
The amount of the scholarship given to recipients may vary throughout the years as the endowment grows in value. Donors who establish scholarships may add to the endowment fund at any time, as may other donors.
Quasi-endowment funds at the University of Minnesota Morris can be established for $10,000 or more. This type of fund currently provides an annual payout of 4.5 percent. However, with quasi-endowment funds, a portion of the principal may also be awarded for scholarships (versus just the earnings as in the case of the fully endowed funds described above). At the donor’s discretion, this fund can be converted to an endowed fund when the principal balance reaches $25,000 in gifts. The donor determines the criteria for quasi-endowment scholarships (as above) and may also name this scholarship.
Annual scholarships are not endowed and are given as per the donor's wishes, dollar amount designation, and total fund balance. Minimum annual scholarships are $1,000 per student per year for five years. The donor may also name this scholarship.