Endowed funds are donor-established investment accounts created to offer lasting financial support to PVCC students, faculty, departments and programs. Named endowments can recognize an individual or organization, area of study, or someone a donor wishes to honor in perpetuity.
Once an endowed fund’s assets reach the minimum gift level, the interest earned is used to award scholarships, faculty chairs, academic awards and prizes, or general program support. The PVCC Educational Foundation Board of Directors limits the annual spending of investment income to a range of between 4 and 6 percent of the market value of endowment investments. Any additional earnings are reinvested in the fund to ensure future growth.
For more information about establishing an endowed fund or to make a gift in support of an existing fund, please contact the PVCC Educational Foundation Office at 434.961.5203 or email firstname.lastname@example.org.
Endowed awards and prizes are established at the $15,000 gift level. The donor determines the parameters under which the award is established and named. Award recipients are usually chosen by academic or program selection committees, as established in the terms and conditions of the endowment agreement.
Endowed chairs are established at the $50,000 gift level. Funds are used to attract and retain distinguished faculty. Income from an endowed chair may be used for the salary support and other expenses related to the chair-holder’s research and teaching.
Endowed lectures are established at the $50,000 gift level. Income from an endowed lecture may be used for expenses related to bringing renowned leaders and scholars to campus in order to create an intellectual atmosphere in which students and faculty can interact with distinguished lecturers.
Endowed scholarships are established at the $50,000 gift level. The donor determines the criteria under which the scholarship is established and named. Donors may choose to leave their scholarships "unrestricted" in order to assure that all available funds can be matched to the broadest pool of eligible students. Some donors prefer to build academic, geographic, field of study, or need restrictions into their gift agreements.
After a review of the terms and conditions of the scholarship, the PVCC Scholarship Committee reviews the pool of all eligible applicants to determine the most qualified candidates and makes selections for scholarship awards.
Other Endowed Funds
All other types of endowed funds may be established at the $15,000 gift level. Income from other types of endowments must be used to support and enhance the work of a specific department, program, project or discipline, and to support institutional priorities as determined by the college’s administration, faculty, and staff.