ENDOWMENTS
Invest In Future Education
Secure ongoing funds for future learning by establishing an endowment.
What Is An Endowment?
An endowment is a restricted, invested fund from which the interest and dividends earned are used for scholarships awards. The principal is never touched, thereby providing a “nest egg” for years to come. Special donor stipulations may be used to establish the fund to support a personal commitment, honor a loved one or support a specific profession.
How Does It Work?
These funds add a whole new dimension to the concept of nurturing lifelong learning because they allow the benefactor to reaffirm his or her commitment to a particular niche in education, by establishing specific criteria and guidelines for awarding the funds. Endowments and fellowships are also an excellent way for donors to honor the memory of a friend or loved one.
You Are In Control!
- You establish the eligibility criteria
- You determine the amount and frequency of awards given
- You decide the name of the fund
- You may be involved in the selection process during your lifetime, if you wish
- You decide when the first award is to be made
- You determine who receives annual reports on the fund
The First Step
A minimum of $5,000 may be submitted to “initiate” an endowed fund. This denotes intent and identifies the name(s) of the donor(s). At $5,000, it is considered “established,” becomes part of the Foundation’s restricted funds and begins to draw interest, which is compounded to facilitate growth and eventual capitalization. No awards are made from the fund until it is “capitalized” at $25,000. Simply put:
- Initiate & Established $5,000 (draws interest, becomes permanently restricted)
- Interest Applied $5,000 – $24,999 (No awards made)
- Capitalized $25,000 (awards made based on actual net interest and dividends)
- Upon becoming Capitalized, endowment holders receive EAF’s Prestigious Green Diamond Award as acknowledgement for their fundraising and philanthropic efforts during EAF’s annual Scholarship & Awards Event.
What’s Next?
- Complete an Endowed Scholarship Fund Agreement (download below or call the EAF office)
- Submit the Agreement with the initial check, made payable to AKA-EAF, with the name of the endowed fund noted and mail the agreement to the EAF Office or go to donate.akaeaf.org and make your contribution online and mail the Fund agreement to the EAF office.
- Mail the Agreement and check to: AKA-EAF, 5656 S. Stony Island Ave., Chicago, IL 60637
Legacy Endowments
Creating a “Legacy Endowment” is also an excellent way to encourage family members who are also members of Alpha Kappa Alpha Sorority, Inc. to pool funds for prosperity. It can be promoted at the Sorority’s Regional Conferences and other members only venues and is a personal and heartfelt way to create a “lasting legacy” for family members under one initiative.
Featured Endowment
Search Scholarships, Fellowships, & Grants
Our search tool will also connect you to endowments and tell you everything you need to know! We support students without regard to sex, race, creed, color, ethnicity, religion, sexual orientation or disability.
Our search tool will also connect you to endowments and tell you everything you need to know! We support students without regard to sex, race, creed, color, ethnicity, religion, sexual orientation or disability.