Endowed Scholarship funds may be named for or after the donor or in memorial of a friend or relative of your choice. A gift to an endowment fund is significant and perpetual for the carefully selected men and women of WJU. An endowed scholarship may be established through a generous gift of $25,000 or more. Once the endowed scholarship has one year of interest the scholarship will be award in the subsequent award year for maximum awarding potential. If you are unable to fulfill the endowment of $25,000 in one gift, you may make a pledge for any number of years to fund the endowment.
The University Endowment is an accumulation of gifts from generous partners that is invested according to WJU’s investment policy. Earnings from the endowment are split to re-invest into the corpus to gain higher yields in the future and the other is given to support students through scholarships.
How Endowments Transform Lives
Every gift and investment made into the Jessup Endowment directly impacts the accessibility and affordability of a quality Christ-centered higher education. Each dollar given alleviates a student’s future graduate debt-load. Students who receive endowment scholarships will graduate with less debt and become more nimble in the hands of God as they are sent into communities to transform lives for His glory.
The Endowment Process
- The Gift – Endowments begin at $25,000 or five percent of which will be invested into the University Scholarship Fund for immediate student support. The remaining 95 percent will be invested per Board policies.
- The Investment Return – Interest gained from the endowment helps increase the corpus to reach and impact more students over the life of the fund. Jessup partners with RW Baird & Co. to manage the investment portfolio.
- Reinvested Payout – The reinvested payout is the unspent fund payout that is returned to the endowment for the purposes of growth and future impact. The long-term goal is to provide a reasonable, predictable, stable and sustainable level of income to support student affordability.
- Fund Payout – The annual payout is calculated from an average of the 12 preceding quarters and distribute 5% on a quarterly basis. 3.75 % is reinvested and 1.25% is awarded to a qualified student per the scholarship committee.
- Perpetuity – To strengthen the fund and uphold the sustainability of the Jessup mission, the investment committee reviews each endowment for maximum impact for the life of the university.
WJU is unequivocally Christ-centered. A thriving endowment allows WJU to stand tall amidst poor economic conditions and threats upon our biblical values for which we stand.
For more information and direction on how to start a named scholarship please contact the development office today.