An endowment links past, current and future generations by providing support to further Overbrook’s educational mission. A strong endowment provides financial stability and helps provide operating support and tuition assistance to students who could otherwise not attend.
Endowments and Scholarships
An endowed gift is a gift that keeps giving — it provides the gift of an Overbrook education for generations to come. The endowment exists in perpetuity and provides a source of stable revenue for the school in addition to tuition and annual giving.
What is an endowment?
An endowment is a fund set aside permanently. The principal is invested and a small percentage of the earnings is used for annual operating expenses or for the purpose the donor has specified, such as scholarships.
How does a stronger endowment help Overbrook?
An endowment links past, current and future generations by supporting and furthering Overbrook’s educational mission. A strong endowment provides financial stability for Overbrook and helps provide scholarships and financial aid to students who could otherwise not afford an education.
Who oversees the endowment?
The Dominican Campus Investment Committee oversees the invested endowed funds.
Can a gift be designated to a specific fund or scholarship?
Yes. Overbrook encourages and welcomes scholarship opportunities for its students. An individual, group or organization may establish a new scholarship named for the donor or in honor or memory of a person. The name specified by the donor will remain associated with an endowed scholarship or fund in perpetuity.
How can I establish an endowed scholarship?
Persons interested in establishing a named endowed fund/scholarship are encouraged to consult with the Development Office prior to making the gift so that the donor’s intentions are appropriately established in writing. Discussion of any named endowed fund/scholarship agreement on behalf of Overbrook shall be done with the knowledge, consent, and signature of the school principal.
In designating a gift to the endowment for a specific purpose, the donor is encouraged:
- to describe the purpose for the gift as broadly as possible;
- to avoid detailed limitations and restrictions on the gift and/or scholarship;
- to provide a clause granting the institution maximum flexibility to make use of designated funds in a manner most consistent with the intent of the donor and with the interests of the school should programmatic or other developments make it impossible to apply the endowment proceeds to the purpose for which it was designated originally.
A donor may create a full-tuition scholarship with a minimum commitment of $250,000. This amount will be payable in full or at least an initial gift of $50,000. The awarding of the scholarship will not commence until the minimum commitment has been completed.
A donor may create a named endowment to provide tuition assistance or other support area with a minimum commitment of $25,000. This amount will be payable by the donor in full or at least $5,000 initially.
Can I make a gift to an existing scholarship fund?
Yes. Overbrook has several endowed funds and welcomes all gifts.
For more information, please contact the Development Office at (615) 383-3230 or email email@example.com