Westminster College is constantly challenged to provide the facilities, technology, programs and personalized approach to teaching in order to continue attracting the finest students. The classification of Westminster as a national liberal arts college shows it is meeting these challenges.
For Westminster to be competitive, additional resources are required. The most important means of advancing the College is through endowed gifts. The endowment is an important measure of institutional strength through the reliable and stable income that is generated. This allows the College to operate with assured financial security and gives donors the personal satisfaction of knowing they have made a permanent and lasting contribution.
What is an Endowed Gift?
An endowed gift is one in which the funds are invested, along with other such gifts, and only investment returns are utilized for the donor's stated purpose. Annually, Westminster spends five percent of the three-year average market value of combined endowed funds for these designated purposes. Since investment returns have historically provided more than this amount, the excess is reinvested. As a result, the values of the funds grow and keep pace with inflation. Common examples of endowed gifts are scholarships, professorships, and programs. Collectively, these gifts form our endowment.
Endowed scholarships may be designated by certain criteria including, but not limited to, geographic region, area of study, academic standing, etc. Donors are encouraged to make additional contributions to their current endowed scholarship funds in order to increase the fund and earnings amounts over time.
What advantages do endowed gifts offer to donors?
An endowed gift is placed in a permanent fund and the income is used for the restricted purpose by the donor. The donor has the satisfaction of knowing that a permanent gift has been made to the College which, in perpetuity, will be used for a specific purpose of their choosing. Furthermore, the donor has the privilege of naming the gift to honor a family member, a friend, a special faculty member, or themselves.
These named gift opportunities begin at $25,000. Outright gifts of cash or stock may be used and the maximum payment period is three years. Planned or deferred gifts, such as a bequest, may also be used to establish an endowed named gift. The gift will not be named and listed, however, until it is actually realized.
Why are endowed funds important?
Endowed funds are invested by the College in a mix of stocks, bonds and cash. The endowment is invaluable because it provides a permanent and stable stream of revenues above those generated primarily from student tuition and fees.