Endowments
In giving an endowment, a donor creates a permanently invested fund at the college from which only the income is used to underwrite the program specified with the gift. A list of all the named endowment funds is maintained in perpetuity by the college, and donors are honored at appropriate occasions on campus.
Some endowment gift opportunities include:
- Student Scholarships – One of the most pressing needs facing the college today is in the area of providing sufficient scholarship funds for its students. Income from an endowed scholarship fund is used to provide financial assistance to a worthy student who meets the criteria established by the donor. Naming opportunities range from an individual scholarship at $50,000 to $100,000 up to a multi-student scholarship program with an endowment of $1,000,000. The fund may be named in honor of the donor or someone the donor wishes to honor, as in The John C. Smith Scholarship Fund.
- Faculty Development – The faculty of Randolph-Macon College has earned a reputation as first-rate teacher-scholars. Gifts for faculty development are among the most important contributions which can be made to Randolph-Macon. Permanently endowed chairs and related faculty endowments enable the college to attract. retain and promote the best and most dedicated faculty. Some of the specific naming opportunities include an Endowed Chair ($1,000,000), Professorship ($500,000) or Visiting Scholars Fund ($100,000). An endowed position may be established in any of the academic fields of the College and may be named in honor of the donor or someone the donor wishes to honor, as in The John C. Smith Chair of Biology.
- Building projects – Randolph-Macon traditionally recognizes those donors whose gifts have made possible new or refurbished facilities on campus. Contributions of $25,000 or more qualify for recognition opportunities. An office, classroom, lecture hall, or entire facility can carry the name of the donor consistent with the magnitude of his/her gift.
