Endowments, Scholarships, & Restricted Gifts
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An endowed gift is a gift that keeps on giving – it provides the gift of a St. Katharine Drexel Preparatory education for generations to come. The gift exists in perpetuity – it is the future of SKDPrep and our students.
The endowment provides the second source of stable revenue for the school in addition to tuition and annual giving. SKDPrep is committed to building a strong endowment in order to continue to deliver greater value and attain higher levels of quality than would otherwise be possible.
What is an endowment?
An endowment is a group of funds set aside permanently so that only a portion of the earnings is used on an annual basis. An endowed gift is one in which the original principal in never touched, and only a small percentage of the earnings are used for annual operating expenses or for the purpose the donor has specified, such as scholarships.
How does a stronger endowment help St. Katharine Drexel Preparatory School?
An endowment links past, current and future generations by supporting and furthering SKDPrep’s educational mission. A strong endowment provides financial stability for SKDPrep and helps us provide scholarships and financial aid to students who could otherwise not afford an education.
Who oversees the endowment?
The Board of Directors Finance Committee oversees the invested endowed funds.
Can a gift be designated to a specific fund or scholarship?
Yes. SKDPrep 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 SKDPrep 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.
For example, a donor may create a full tuition scholarship with a minimum commitment of $31,300 for SKDPrep. This amount will be payable in full or at least an initial gift of $8,310. The awarding of the scholarship will not commence until the minimum commitment has been completed. All donations are appreciated.For more information contact our development director. Please feel free to email us at [email protected] or by phone at 504-399-8118.. Thanks!