This preparation does not come without cost. Faculty members who are dedicated to teaching, programs that develop and enrich students, and facilities that enhance both teaching and learning all require substantial financial resources.

HOW YOU CAN HELP
You can support Converse College and its students by establishing an endowment for scholarships, professorships, academic and co-curricular programs, or campus improvements.

Whereas annual gifts help meet the needs of the College over a relatively short period of time, endowments benefit the College forever. Since only a portion of the annual earnings from an endowment is spendable, the corpus of the fund remains intact, generating income for the endowment's purpose year after year. Additionally, a portion of annual earnings above the amount spent are reinvested in the fund, allowing the endowment to grow over time.

As with all gifts to Converse, an endowment can be established through cash donations, gifts of stock, bequests, real estate gifts, gift annuities, and trust arrangements. All gifts to Converse College can provide substantial tax advantages. Please contact the Office of Development at (864) 596-9018 or development@converse.edu.

SCHOLARSHIP ENDOWMENTS
Scholarships often determine whether a young woman will be able to attend Converse. Nearly 90 percent of the Converse undergraduate students receive some form of scholarship assistance.

Fully Endowed Scholarship
A fully endowed named scholarship fund will be established with a gift of $350,000. This will provide one full scholarship covering tuition, fees, room, and board each year.

Endowed Scholarship
A named endowed scholarship fund will be established with a gift in the range of $25,000 up to $349,999.

Recognition for Scholarship Endowments
The scholarship fund will carry the name chosen by the donor and will be listed in the college catalog and yearly in the college's Annual Report.

Donor(s) establishing a fund will receive a report stating the name(s) of student(s) to whom the award was given, as well as a summary of the amount awarded, the retained earnings, and the current balance of the fund.

Recipients of scholarships from these endowments will be encouraged to correspond with the donors. The college will annually make additional arrangements for the donor (or their descendants) to have an opportunity to meet with scholarship recipients.

Donor(s) establishing a fund with a minimum level of $100,000 will be permanently recognized in Wilson Hall with a plaque showing the name of the fund and the donor(s) who establish the fund.

Other Scholarship Funds
Gifts of less than $25,000 will establish a holding fund until such time as additional gifts to the fund help reach the minimum level of $25,000. Should the fund not reach the minimum level within four years, the donor(s) who established the fund will have the opportunity at that time to bring the fund to the minimum level for a named scholarship or the College will combine the fund as part of the general scholarship endowment.

ENDOWMENT OF FACULTY POSITIONS
To maintain high academic standards at Converse College, we must recruit and retain highly qualified faculty members. An endowment to support a professorship can make the difference in Converse's ability to attract and retain outstanding faculty members.

Distinguished Professorships
A minimum gift of $1,000,000 will fund a named professorship. A professorship is awarded to a faculty member for a period of at least one year, and may be renewed for additional years. This fund supports instruction and will enhance the academic program by underwriting a faculty position.

Recognition for Faculty Endowments
Each professorship carries the name chosen by the donor, and will be listed in the college catalog. All endowed professorships will be permanently recognized in Wilson Hall with a plaque showing the name of the fund.

OTHER ENDOWMENTS
Endowment programs generate needed funds for a variety of special projects. A donor can establish an endowed fund to support a field related to his or her interest and have the reassurance that the program will be supported in perpetuity.

Program Endowments
A minimum gift of $25,000 will fund a program endowment. Donors to program endowments may decide on the restrictions that will apply, directing the earnings to be spent for a particular program for the college. Endowments can be designated to support a specific academic program, a particular project, School of Music Ensemble, special event, or other need of the College.

Building Endowments
In 1999, the Board of Trustees established a policy that all new construction on campus will require a 25-percent endowment to fund maintenance and upkeep. For example, a one million-dollar gift for new construction requires an additional $250,000 to ensure ongoing maintenance and building improvements. Donors to building endowments, either for new construction or for existing buildings, will receive recognition appropriate to their gift. This recognition could involve the naming of rooms, labs, or other parts of the building in accordance with the donor's wishes. The donor also chooses the name of the endowment fund.

WHEN DOES A FUND BECOME ACTIVE
The timing of your gift is critical. When a fund becomes active and begins to provide income for the individual or program for which it has been established depends on when the gift is received. Earnings are calculated based on endowment balances as of December 31st. Gifts received prior to December 31st will generate funding for the following fall term. Any gifts received after December 31st will generate funding for the fall of the following calendar year.

HOW ENDOWED FUNDS ARE MANAGED AND MAINTAINED
Converse College's endowment is managed by professional investment advisors. In addition, each named endowment is maintained as a separate account and receives its share of the earnings on a quarterly basis. The principal is held in perpetuity and will continue to generate financial support for the College forever. Converse College manages all its endowment funds by the total return method. The Board of Trustees set the college-wide spending rate, which is currently no more than 6%, meaning that each year a portion of the income equal to no more than 6% of the principal is available for use. The amount to be awarded each academic year is calculated based on the December 31st fund balance of the previous year.

Upon the establishment of an endowed fund, a statement of fund parameters is created and signed by the donors and a representative of Converse College. This document will clarify the guidelines of the endowed fund and ensure that the fund will be awarded as the donor requests. One copy of the agreement is provided for the donor and one is kept in the files of the College.