Endowed Scholarships

For businesses, corporations, or individuals wishing to create an endowed scholarship, five percent of the endowment will awarded as an annual scholarship. Donors will be able to help choose the name of the scholarship and give input to the criteria under which it will be awarded. The scholarship name and criteria must be approved by the CHIME Education Foundation.

Endowed scholarship options are as follows:

• $20,000 with an annual award of $1,000
• $60,000 with an annual award of $3,000
• $100,000 with an annual award of $5,000

Donors can also contribute other amounts if approved by the Education Foundation.

Payments

Endowed scholarships can be paid in two ways:

Lump-Sum Donations

For organizations that choose this option, payment must be received all at one time. For lump sum donations, the first scholarship from the donor’s endowment will be awarded the year following their lump-sum payment, and each year thereafter.

Five-year Commitment

For organizations that choose a five-year commitment for funding their endowed scholarship, the payments will be spread out into five equal payments to be made annually. The first scholarship from the donor’s endowment will be awarded the year after the third payment is received. If a payment is missed, the scholarship will not be awarded, and the funds previously collected will be deposited into the Education Foundation’s general scholarship fund.

If you would like to create an endowed scholarship, please complete the following form:

Once we receive the completed endowment form, we will contact you with more details about your scholarship.