What type of scholarship support does the Seminary give to its students?
Through the generosity of our donors every student who demonstrates need may receive up to a 100% tuition grant currently valued at more than $9,600. While living expenses are also a major consideration, this tuition aid is a true blessing to our students. In addition, a limited number of Merit and Promise for Ministry Scholarships help cover living expenses.
How can I honor someone during my lifetime when I don't have excess funds available at this time in my life?
You may make a "life-income" gift, such as a charitable gift annuity or charitable remainder unitrust. This will guarantee an income for life for the beneficiary, with the remainder going to the Seminary at his or her death.
What is the effect of an endowment fund now and in the future?
Income from an endowment fund, up to about 6% per year, is used to provide benefits each year. This income may support ongoing annual expenses or any of a number of donor-specified needs, such as scholarship aid, faculty chairs, lecture series, and library resources, among others.
Since the amount of income used each year (also known as the "spending rate") is only a portion of the target income earned on the endowment, it continues to grow so that the income used each year grows as well, in perpetuity. Thus, an endowment provides both for the present and for the future.
How much is needed to establish a named endowment fund?
A gift of $10,000 is sufficient to establish an endowment fund named for the person you wish to honor. Smaller gifts may be added to existing endowment funds.