Process of Establishing an Endowed Scholarship

DRAFT, revised 11-28-06 Process of Establishing a Scholarship at Saint Louis University

Saint Louis University offers a wide variety of opportunities to create scholarships for deserving students. The following outlines the process for establishing a scholarship.

1. The donor(s) states his/her/their intent to establish a scholarship at Saint Louis University to a development officer, Dean or other faculty/staff member (referred to as the “university contact”).

2. The university contact makes contact with the director of stewardship to complete the appropriate scholarship agreement template (use NAMED ENDOWED SCHOLARSHIP template for named endowed scholarships and TERM SCHOLARSHIP template for term scholarships) using the specific donor requests and funding information. The director of stewardship consults as needed with the Office of Financial Aid and the Business/Finance Department to clarify any unusual terms of the scholarship agreement. Revisions, if needed, are made to the scholarship agreement.

3. The document is forwarded to the Associate Vice President for Development for signature.

4. The scholarship agreement is sent back to the university contact for his/her signature.

5. The university contact makes contact with the donor. The donor reviews and signs the document. If the donor has any revisions, the process reverts to step two to make the appropriate changes.

6. Once the donor has signed the agreement, the university contact forwards the fully executed agreement to the director of stewardship.

7. University contact delivers payment (check, credit card information, etc.) to Gift Processing. Gift Processing batches and deposits check into suspense while waiting for director of stewardship to stamp agreement and complete fund/account request paperwork.

8. The director of stewardship date stamps the agreement and completes the fund/account request paperwork to establish a new fund with Business and Finance. Copies of each are given to Gift Processing and Business/Finance. A file is started in the stewardship office.

9. Director of stewardship communicates the restrictions to the Financial Aid office, and ensures that the donors are connected to the designation fund as stewardship contacts.

Scholarship Minimum Investments

Graduate and Type of Scholarship Undergraduate Professional Named Endowed Presidential Scholarship $500,000 $750,000 Named Endowed Dean's Scholarship $250,000 $500,000 Named Endowed General Scholarship $25,000 $50,000 Named Term General Scholarship $10,000 $10,000