What Is The Annual Fund?
The Annual Fund is an equally important kind of giving to Mississippi Valley State University. The Annual Fund supports teaching, learning and discovery. The money generated by the annual fund helps maintain the day-to-day initiatives of the University and moves us closer to excellence. These unrestricted funds can be used immediately to meet our most important needs and priorities – including (but not limited to) scholarships, faculty recruitment and retention, professional development and memberships, financial aid, library and computer resources, as well as facilities maintenance and renovation.
The Annual Fund provides financial assistance to our students each year and assists in keeping the experience affordable and accessible for traditional students as well as working adults. It is through the Annual Fund that the University continues its tradition of helping students – regardless of financial limitations – to pursue an education here.
What is a Major Gift?
The University defines a major gift as a minimum contribution of $10,000.00. Although major gifts can be unrestricted, typically the donor allocates the gift to a particular initiative or project or by establishing a scholarship. A major gift is a tremendous investment in the University. A major gift not only assists with budgetary needs, but demonstrates the commitment that motivates the gift. A major gift can also be done through a multi-year plan. For more information, contact the Office of Advancement at (662) 254-3790.
Types of Scholarships
There are two types of scholarships that can be established by a donor: Expendable (Annual) and Endowed. Below you will find an explanation and information about criteria for both.
Expendable (Annual) scholarships are funded by annual unrestricted gifts, which then go directly to help students meet their financial burden. The number of expendable scholarships available each year is dependent upon the amount of contributions received. An annual scholarship has an immediate financial impact. An expendable scholarship may be established at a minimum of $1,000/year.
An endowed scholarship is a fund where the initial gift - the principal - is invested and the earnings from the investment are distributed to the student(s) as financial assistance. The principal remains untouched, thereby providing a permanent source of funding and a return on the investment, thus allowing the scholarship to grow and the interest to be awarded over time. Donors who establish endowed scholarships may wish to create certain eligibility criteria for the selection of recipients. An endowed scholarship could be created through a multi-year pledge. Most pledges last five years. A minimum of $25,000 is required to create an endowed scholarship. An endowed scholarship provides merit-based and need-based financial support for academically talented students through the use of an invested fund designated for scholarships.
Criteria for Scholarships
Criteria for an Expendable or Endowed scholarship is determined by agreement between the donor and Mississippi Valley State University at the time the scholarship fund is established. Typically, scholarships are awarded based on both academic merit and financial need. In addition, a donor may wish to benefit students who are engaged in a particular field of study or who meet other agreed-upon criteria. However, the fewer restrictions on the scholarship, the greater flexibility Mississippi Valley State University has in selecting qualified recipients. The University’s Scholarship Committee for Private Funds selects scholarship recipients.
Process for Establishing a Scholarship (Annual or Endowed)
- Donor notifies the Office of Advancement of its intent to set up a scholarship.
- A Fund Agreement is created and specific criteria is set by the Donor and outlined in the Fund Agreement.
- Donor and University sign Fund Agreement.