The F.A.T. goal for 2016 and future years is to raise enough donations to endow a football scholarship. We truly believe that endowing a scholarship is the best investment that we can make to insure that future athletes have the same opportunity that we enjoyed.
An endowment is a sum of money that is never spent, but is invested to provide a dependable stream of income. Endowments are permanent.
The minimum amount to officially establish an endowment is $10,000.
Anyone may create an endowment. Individuals, foundations, corporations, and various clubs and organizations have all created successful endowments at Idaho State University.
Only the interest income from an endowment is awarded in the form of scholarship dollars. Idaho State University usually awards the first 5% of interest income on endowments. One or more awards can be made from that amount.
Absolutely. Donors provide the ISU Foundation with the guidelines for choosing the recipients of their scholarships. You may specify a certain position on the field, major, grade point average, participation in a certain sport, or any other areas you wish to emphasize. A tremendous need exists, however, for unrestricted dollars, which are directed to the areas of greatest need by the Idaho State University Scholarship Committee. Endowments may also support areas other than scholarships, such as equipment or facilities.
Each year you will receive a letter from the ISU Foundation indicating the students who received your scholarship and some information about them. In addition, students are provided with information indicating the donor of their award, and will make personal contact with you.
Endowment funds grow most quickly through continued support from the original donor and from additional donations from friends and family. Endowment funds are carefully invested for the highest yield. Unless the donor specifies otherwise, the first 5% of the interest income is awarded to students in the form of scholarships, and the rest is returned to the principal to help the endowment grow.
The ISU Foundation allows donors three years to reach the minimum amount of $10,000 to start an endowment. Anyone wishing to donate to the fund needs only to send contributions to the ISU Foundation indicating the endowment to which it should be applied. When the amount reaches $10,000, the director of scholarships and endowments will contact you to complete the agreement.
If you are interested in donating to the ISU F.A.T. Endowed Football Scholarship, please contact Don Neves at 208-406-3957.