Spendable vs Endowed Gifts

Spendable Gifts

Spendable gifts are applied to their designated charitable purpose at the time they are received. They can support current scholarships, specific programs, or student and faculty research. Some prefer spendable gifts over endowed gifts because they are applied in full to support today’s programs and students.

Establishing Named Spendable Funds

We can receive gifts of any amount for current use but, but there are funding minimums for establishing a named fund:

Supporting faculty

• $85,000 per year (suggested three-year minimum) to name a post-doc fellowship
• $50,000 to name a research and/or faculty development fund

Supporting students

• Term Fellowship
  • $50,000 (five years x $10,000 for one PhD candidate)
• Endowed Fellowship
  • $250,000 to endow a named fund

Endowed Gifts

Endowed gifts provide essential support for scholarships, lectureships, and research. These gifts remain a part of the university's endowment, which means your generosity will benefit our students in perpetuity. 

Create an Enduring Legacy

When you make an endowed gift, its long-term benefits can far exceed its original value. Principal value is never touched when the gift is invested, and an established percentage of its income is distributed annually for use by the University.

Over time, each gift grows in value, providing increasing resources in future years. In short, gifts to the endowment enable us to plan for the future with confidence.

The long-term impact of this support is immeasurable. For this reason, many donors choose to name their endowments—as a personal legacy or in honor of beloved family, friends, or mentors.

Establishing Endowed Funds

From faculty and scholarship support to funding for the Hirsh Health Sciences Library, endowed funds have far-reaching impact on our academic and educational mission. As you think about your gift, please consider these funding minimums:

Supporting faculty

• $5,000,000 to endow a named deanship
• $3,000,000 to endow a newly created faculty professorship
• $2,000,000 to endow an existing faculty professorship
• $1,250,000 to endow a junior or faculty development professorship
• $50,000 to endow a research and/or faculty development fund

Supporting students

• $250,000 to endow a named fellowship fund

Supporting spaces or discretionary use

• $25,000 to endow a library resource fund (formerly known as a book fund)
• $25,000 to endow a dean’s discretionary fund