An endowment refers to a permanent financial resource that is invested for long-term growth and provides an annual stream of income. By law, only the income and related gains from endowment funds may be spent; the principal remains intact. The endowment is invested for the long term. Each year, Central’s board of trustees approves a payout rate for the endowment, which determines the amount of income that flows into Central’s budget. Any remaining income and appreciation is reinvested to preserve the long-term value of the endowment for future generations.
Any of the following can be used to create an endowment:
Through our gifts to the endowment, we can leave a legacy that continues to benefit students for generations to come.
As the value of a Central degree has increased over the years, so has its cost. Central is committed to keeping the doors of opportunity open and making education affordable to all who qualify. An endowed scholarship can be donated as a lump sum, pledged over several years, or as part of a planned gift. Endowments which are not yet fully-funded can be accompanied by current gifts to allow the scholarship to be awarded for the next academic year. Endowed scholarship donors and their scholarship recipients are invited each spring to Central’s annual Scholarship Recognition Banquet.
See list of current endowed scholarships
A professorship is a special way of recognizing current faculty members of exceptional ability and stature. It enables Central to attract distinguished professors who can expand possibilities, for both students and colleagues within various departments. They make a clear difference in the quality of teaching and scholarship.
Perhaps the most powerful academic gift, the endowed chair can bear the name of the donor or a person honored by the donor. The donor works with the college to determine the criteria for selecting the faculty or staff member to be honored with the chair. Endowed chairs are critical to the college’s ability to attract and retain outstanding faculty and staff in a highly competitive environment.
Interested in making a gift? Check out all of the ways to give to Central.