An endowed fund in NEF is a wonderful way to:
- Recognize or perpetuate the memory of a loved one (living or deceased), a nursing leader, a community leader, a special friend, a family member, or a significant other.
- Establish an ongoing alumni scholarship from a particular nursing educational program, especially if the program is now closed or is facing closure. An endowed scholarship creates a permanent scholarship in the name of that school or its alumni association; additionally, it creates a type of perpetuity for the program itself. Think about keeping your school's name alive by asking your alumni association to consider an endowed scholarship in their name or the school’s name.
An endowment scholarship fund requires an overall donation of $50,000 that is tax-deductible and is available to any one individual or group wishing to create such a fund.
The fund can be established with a one-time donation to NEF of $50,000, or it can be created over time as long as donations are so designated and contributed on a regular basis until the requirement is met. Continued contributions are certainly encouraged in order to provide a solid base for the fund and to guarantee its growth and perpetuity. Over time, the principle remains carefully invested and the interest dividend(s) provides the scholarship monies to the selected individuals.