An endowment creates financial stability, allowing Jackson State to be less dependent on unpredictable sources of revenue, such as research sponsorship, state and national government aid. The recently established Title III Matching Funds Program allowed Jackson State and JSUDF to greatly increased the endowed funds for scholarships.
An endowment creates financial stability, allowing Jackson State to be less dependent on unpredictable sources of revenue, such as research sponsorship, state and national government aid and is created through the establishment of a permanent fund that is invested and managed. A portion of the annual income generated is used to carry out the donor’s designated purpose. Income earned in excess of the annual amount spent is added back into the endowment so that it continues to grow and maintain its purchasing power for future generations.
Establishing an endowment can be done a variety of ways; outright gifts and planned gifts such as charitable trusts and will bequests are popular ways to fund the initial endowment or add to it in later years. Donors often fund endowments as a single gift or in the alternative they spread the payments over several years in the form of a pledge. Endowed funds can become family traditions, with succeeding generations adding gifts to the principal established by a founding donor.
Gifts for scholarship and fellowship endowments provide many opportunities to connect our donors’ passions with the needs and objectives of Jackson State. In order to guarantee that the income from an endowment will be sufficient to achieve the donor’s goals, minimum support levels have been established. Following are just a few of the categories and minimum support levels for endowments:
|Area of Support||Minimum Required Endowment|
|Faculty Scholar Professorship||$500,000|
|Colleges and Academic Units|
|Institutes, Programs, Centers||Market Driven|
|Dean/Director Initiative Fund||$25,000|
|Provost Initiative Fund||$25,000|
|Chancellor Initiative Fund||$50,000|