Create a Scholarship
LACC Foundation is committed to meeting the increasing needs of talented students, for whom a college education would not be possible without scholarship aid. LACC Foundation has seen a steady increase in the need for scholarship aid as tuition costs continue to outpace inflation, family income, and federal tuition assistance. One stark reality on City’s campus is that the annual median income of LACC students is $16,233, with one quarter of students earning less than $5,544 per year. Without scholarship aid, many of these students are not able to stay in school, perpetuating the cycle of poverty.
You can provide the means for deserving students to attend LACC, through an endowed scholarship fund. What better way to honor a loved one, friend, or favorite professor than by investing in the lives of deserving students.
What does it mean to “endow” a scholarship?
When a donor establishes an endowed scholarship fund, the gift amount is retained in perpetuity and cannot be spent; the revenue from the endowed scholarship fund provides annual awards to students on a continual basis. Student awards equal a percentage of an endowed scholarship fund’s weighted average of past valuations. Any earning in excess of the student award is reinvested into the scholarship fund, allowing awards to keep pace with the rate of inflation. While each endowed scholarship is accounted separately, each scholarship fund’s balance is commingled with other college endowment funds, increasing its potential for investment return while further strengthening its investment potential.
How can I set up an endowed scholarship?
Endowed scholarships may be initiated with a minimum gift of $10,000 and a signed application. Once approved, a memorandum of agreement outlining the terms of the endowed scholarship will be sent to the establisher for their signature. Endowed scholarships are frequently funded by gifts of cash, but they may also be funded by transfers of stocks, bonds, mutual funds, real estate, and other types of property. Gifts toward endowed scholarships may also be made by bequest.
Your financial advisor or attorney, along with the LACC Foundation, can help find the right choice for you. For more information, contact Carole Wenger, Director of Alumni Relations and Development at (323) 953-4011