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Establishing Restricted Scholarship

  1. You may pick the name of the scholarship.
  2. You may select the criteria for the recipient.
    (Examples)

    1. GPA
    2. Location (i.e., Mississippi student)
    3. Religious Denomination
    4. Financial Need
    5. Minority status
    6. May NOT select a specific student (that is paying tuition and not a scholarship, therefore it is not a tax deduction).
  3. You may start with any amount.
  4. When an endowed scholarship reaches at least $10,000, it disburses funds to students and is recognized in university literature.

    1. The scholarship is produced from a year’s earnings.
    2. The corpus should reach $10,000 within five years.
    3. If within five years the fund does not reach this level, the remaining corpus will be pooled into a general scholarship fund.  A one-time scholarship in the amount of the remaining corpus will be awarded to a student or students the following year.
  5. The funds are placed in an account with the Mississippi Baptist Foundation.
  6. The scholarship amount is produced by the earnings of the endowment.  $10,000 typically provides $500 a year for a student.
  7. Anyone, at any time, may contribute to the corpus of the endowment.
  8. Checks should be made out to William Carey University with the name of the scholarship in the memo line.
  9. Students and Donors are recognized at Honors Day in the spring.
  10. The name of the endowed scholarship is listed on the university webpage.
  11. Students are selected according to the criteria established by the donor.