Endowed chairs strengthen the faculty leadership in all departments. Income from an endowment supports a professor's compensation in the area of scholarly activities and classroom teaching. In consultation with Fisk University, the donor may express a preference for the academic area or specific discipline for the chair. An endowed chair may be named for the donor or another person of the donor's choice. The minimum contribution is $1,000,000, which must be paid within five years.
Endowed scholarships enable Fisk University to offer more competitive financial aid packages to our students. More available scholarships would mean that students would not need to rely so heavily on loans or devote as much time during the academic year working to earn money to pay for their educational expenses. Financial aid is often the determining factor in students' choices of which schools they will attend. Scholarship endowment is critical to ensuring that the doors of higher education remain open to bright and deserving students, regardless of their financial circumstances.
A minimum of $50,000 is required to endow a scholarship. This may be paid over a five-year period. The named scholarship becomes a permanent tribute to the person whose name it bears. Often a memorial scholarship endowment is established for a family member and provides a legacy that will last forever.
All funds deposited in a scholarship endowment shall be held in trust by Fisk University. These funds are invested in accordance with the general investment guidelines of the Board of Trustees Investment Committee. Fisk University shall hold the corpus in perpetuity, paying three to five percent annually of the net fair market value of the assets for students that qualify for the scholarship.
Naming Opportunities for Facilities
As the need for new facilities are identified and approved by the Board of Trustees, Fisk University's advancement team will be happy to work with interested donors of gifts for their construction and endowment. The naming opportunity for a new building typically requires a minimum donation of half of the overall project cost. These projects also include opportunities for donor's support for such projects by their making gifts for specific rooms or facilities within a new or renovated building. Such rooms and facilities may be named for a family or an individual in consultation with the Vice President for Institutional Advancement. A maintenance endowment for a new or renovated building requires a donation of 25% of the overall project cost.
For more information, please contact Edwina Harris Hamby.