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Establish a Named Scholarship
Establishing a Scholarship
A donor can create an endowed scholarship to support students in perpetuity or an annual scholarship to provide immediate assistance to students.
Scholarships provide critical tuition support for CUNY SPS students. A scholarship fund helps to meet the needs of our students while reflecting the specific interests or desires of a donor. Establishing a scholarship fund can be a special way to honor or memorialize a loved one’s interests or accomplishments, honor a former student and/or faculty member, or encourage students in a particular academic area.
CUNY SPS welcomes donations to establish and name new gift funds as well as donations of any size in support of already existing funds.
- Gifts of any amount may be made in support of existing scholarship funds.
- Gifts of $100,000 or more may be used to support a wide range of giving and naming opportunities, including professorships, endowed chairs, and scholarships.
A donor can establish a named scholarship endowment with a pledge commitment and a minimum gift of $25,000 with a commitment to increase the scholarship fund to the total of $100,000 over a three to five year period. Upon reaching $100,000, the fund will be permanently invested in the CUNY Investment Pool. Scholarship awards are made from earnings in accordance with the CUNY Investment Pool spending guidelines.
The CUNY Investment Pool currently maintains a 4.5% annual spending policy. Scholarship awards will be made from the earnings of the fund, beginning one year after investment. The principal will remain intact and earnings above the 4.5% will be applied to the principal. Subsequent gifts to the scholarship are also applied to the principal. As the principal grows, so may the amount and/or number of awards.
- Gifts of $25,000 or more may be used to establish new scholarships, awards, and prizes.
- Gifts of $10,000 to $24,999 may be used to establish new scholarships, awards, and prizes.
- An initial gift of $1,500 with a total pledge commitment of $4,500 can establish an Annual Scholarship. Creating an annual scholarship provides critical and immediate tuition support for CUNY SPS students. Annual scholarships may be awarded for as many years as the funds are donated. The name associated with the scholarship will remain with the fund until such time as the fund is depleted or discontinued.
For more information and to establish an endowed or annual named scholarship, please contact Michael Iadarola at 646-664-8660 or via email at firstname.lastname@example.org.