Endowed chairs strengthen faculty leadership in all departments. Income from the endowment supports a professor’s compensation in the area of scholarly activities and classroom teaching. In consultation with Tougaloo College, the donor may express a preference for the academic area or specific discipline for the chair. An endowed chair may be named for the donor or another person of the donor’s choice. The minimum contribution is $1,000,000, which must be paid within five years.
More endowed scholarships would enable Tougaloo College to offer more competitive financial aid packages to our students. More available scholarships would mean that students would not have to rely so heavily on loans or devote as much time during the academic year to earning money to pay for their educational expenses. Financial aid is often the determining factor in students' choices of which school they will attend. Scholarship endowment is critical to ensuring that the doors of higher education remain open to bright and deserving students, regardless of their financial circumstances.
A minimum of $50,000 is required to endow a scholarship. This may be paid over a five-year period. The named scholarship becomes a permanent tribute to the person whose name it bears. Often a memorial scholarship endowment is established for a family member and provides a legacy that will last forever.
All funds deposited in a scholarship endowment shall be held in trust by Tougaloo College. These funds are invested in accordance with the general investment guidelines of the Board of Trustees’ Investment Committee. Tougaloo College shall hold the corpus in perpetuity, paying three to five percent annually of the net fair market value of the assets for students that qualify for the scholarship.
NAMING OPPORTUNITIES FOR FACILITIES
As the need for new facilities are identified and approved by the Board of Trustees, Tougaloo College’s Advancement staff will be happy to work with interested donors of gifts for their construction and endowment. The naming opportunity for a new building typically requires a minimum donation of half of the overall project cost. These projects also include opportunities for donors’ support for such projects by their making gifts for specific rooms or facilities within a new or renovated building. Such rooms and facilities may be named for a family or an individual in consultation with the Advancement staff. A maintenance endowment for a new or renovated building requires a donation of 25% of the overall project cost.
For more information please contact:
Sandra A.M. Bowie, MPA
Acting Vice President for Institutional Advancement/
Director of Corporate and Foundation Relations
(601) 977-7871 office
(601) 977-4492 fax