The generosity of Newman University’s donors and friends plays a big role in empowering the university’s graduates to transform society.
Endowed scholarships in particular impact Newman and its students for generations.
Bob Beumer, vice president for institutional advancement, explained how these types of funds are in perpetuity — meaning forever — and allow the university to plan for the future. Newman currently offers 64 different endowed scholarships to students.
The benefit of establishing an endowed scholarship to the donor is the knowledge and satisfaction that their gift will be helping students long into the future.
The principal amount of an endowed scholarship is never touched, and the earnings are used to fund the annual scholarship. Endowment earnings above the payout percentage are returned to the fund, which allows it to grow and keep pace with inflation over the years.
The best way to initiate an endowed scholarship is to reach out to the University Advancement Office to begin the process. The staff can share details and ask questions to begin donors’ thinking — questions like, “What are the areas most important to you when supporting a student? Is it discipline, financial need, grade point average, affinity group, etc?”
Beumer said, “Endowed scholarships or funds are a great way to leave a legacy, supporting an area that is most important to you. The university always has more students in need than scholarships available. Your gift will help support the next generation of students that are ready to graduate and transform society.”
“The added benefit to Newman is a steady stream of scholarship funds with a known amount each year,” he said. “The university is able to build that amount into its budget each year.”
To learn more about how you can set up an endowed scholarship, contact the University Advancement Office at 316-942-4291 ext. 2471.