How are gifts credited for the tax year?

Gifts credited for the tax year (December 31st) include:

• Online gifts must be made prior to midnight CDT December 31st (for the tax year)
• Credit card gifts taken over the phone made prior to 4:30 pm CDT on December 31st (for the tax year)
• Credit card gifts mailed in and received prior to December 31st (for the tax year) for office processing
• Checks mailed in must be postmarked on or before December 31st (for the tax year)

Endowed Scholarship

Letter of Agreement

An endowed scholarship is a permanent fund in which the principal remains intact and invested in accordance with Athens State University Foundation Investment Policy. Scholarships are awarded annually from the allocated income earned on the principal investment. Each year, the Foundation Investment Committee meets to determine allocations based on investment returns. The target return rate for investments is 5%. The Foundation offers two levels of named scholarship endowments beginning with a minimum investment of $25,000 as illustrated below:

Presidential Scholarship              $50,000+

Distinguished Scholarship           $25,000+

Annual Scholarship

Letter of Agreement

Annual scholarships consist of those that are established based on an agreement that the donor contributes a minimum amount ($500) annually for a period of three years or an aggregate amount of $1,500. The entire gift is awarded in the form of a scholarship annually to a student(s) who meets the criteria specified by the individual donor. Annual awards may vary and are made each year based on the terms of the agreement and the amount contributed by the donor.