Supporting students directly is one of the most meaningful and memorable ways to give. One hundred percent of your gift will be given to one or more students that meet the criteria you’ve established.
Establishing a Student Award
Awards can be established and given out on an annual basis as long as the donor continues to give, or in perpetuity through the creation of an endowment fund. Donations to awards can be given through the traditional giving channels—through cheque or credit card, a gift of stock or bonds, or through a bequest in a will.
If you are considering establishing an award at UFV, then let’s start by looking at the two ways that an award can be funded – either annually or through an endowed award:
Annual award: an award that is funded each year by the donor. Annual awards are pledged for a minimum of three years and contributed by the donor in February each year. The minimum threshold for this award is now $750.
Endowed award: an award that is funded annually (in January) by income generated from funds that have been invested, or endowed, into UFV’s Endowment fund. UFV Board of Governors oversees the investment in conjunction with a professional investment firm for a guaranteed 4% rate of return. The minimum investment required for an endowed award is $18,750 and it takes one year before it can be awarded (in order to generate returns). For example, $18,750 generates $750 annually. This type of award is reviewed every ten years, but lives on at UFV in perpetuity!
There are three types of awards at UFV: scholarships, leadership awards, and bursaries. They are defined as:
Leadership awards are monetary awards provided to both undergraduate and graduate (post degree) students in good academic standing who have demonstrated excellence in a range of non-academic fields, such as community service, student leadership, volunteerism, and athletic or artistic performance. Recipients must have a minimum 3.0 GPA.
Scholarships are monetary awards that recognize academic achievement and assist recipients with the cost of continuing their education. These merit-based awards are granted to undergraduate and graduate (post degree) students who maintain a minimum of a 3.5 GPA.
Bursaries are monetary gifts provided to students to assist them with expenses incurred while pursuing an academic program. Financial need is the primary consideration in the selection for bursary recipients. Recipients must have a minimum 2.0 GPA.
Scholarship and leadership recipients are selected by the UFV Awards committee or their delegates, as set out by its terms of reference. Bursary recipients are determined by the Financial Aid and Awards department.
Please contact us today to establish an award for a deserving student: firstname.lastname@example.org.