A strong endowment ensures that there is an enduring source of funding for immediate and future needs. Endowments grow over time to create a legacy of learning as they extend the impact of your generosity beyond a lifetime.
The principal is invested and a portion of the fund’s value is made available each year to support the purpose determined by the donor. Many donors elect to name endowments in honor of a family member, life-changing professors or mentors, to preserve the name of their family or create a personal Central legacy.
Endowments can be created with gifts of cash, securities, and other assets. They can be established through one-time gifts, estate gifts, and multiyear pledges. Although the minimum amount required to create an endowment fund is $25,000 larger amounts are recommended or required for certain purposes. Gifts at these levels may offer donors naming opportunities. All gifts at the minimum endowment level, as well as cumulative lifetime giving of $10,000 or more, qualify donors for recognition as members of the Cornerstone Society.
Next steps to create an endowment fund:
- Seek the advice of your financial or legal advisor.
- Contact Doyle Monsma at 641-628-5181 or firstname.lastname@example.org to discuss endowed gifts.
- If you include Central College in your plans, please use our legal name and federal tax ID.Legal name: Central College
Located in: 812 University St., Pella, IA 50219
Federal tax ID number: Please contact us for our federal tax ID number.
Endowed Scholarships – $25,000 Minimum
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
Endowed Professorships – $500,000
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.
Endowed Faculty Chair – $1,000,000
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.