Providing a named endowment to support Converse provides a perpetual source of income for scholarships, faculty support and programming. Endowment assets are invested and each year, a portion of the value of the fund is paid out to support the fund’s purpose with any earnings in excess of this distribution are used to build the fund’s market value. In this way, an endowment fund can grow and provide support for its designated purpose in perpetuity. It is the most important element in ensuring permanent financial stability for today’s students and for the generations of Converse students to come. Converse offers current-use naming opportunities to provide immediate impact.
The Converse College Board of Trustees has set different minimum funding levels for different types of endowments.
An endowed, need-based scholarship can provide qualified, admitted students the opportunity to join the Converse community. A named scholarship may be endowed for $25,000 or more. Contributions of any amount may be added to an existing scholarship at any time. An annual gift of $2,500 with a 4-year commitment can also create an immediate scholarship.
A gift of $25,000 or more can provide a young woman with distinctive academic, artistic and/or athletic abilities a named, merit-based scholarship. Upon funding at this minimum level, additional contributions of any amount may be made at any time. An annual gift of $2,500 with a 4-year commitment can also create an immediate scholarship.
Committed faculty members are core to Converse’s educational mission. Endowed funds for faculty support underwrite professors’ teaching and research projects and can offset start-up costs associated with new faculty appointments. A gift of $50,000 or more would provide needed resources for faculty support and research. A gift of $1,250,000 or more will provide a named Professorship which is one of the highest honors bestowed on a faculty member.
Many ongoing special programs are funded by endowments. Research projects, internships, lectures, campus-wide learning activities and more are funded through endowments created by specific ongoing programs. With a minimum funding requirement of $25,000, the size of the endowment required is dictated by the goals of the program. An annual gift of $2,500 with a 4-year commitment can also create an immediate impact for a program at Converse.
|Building Naming||Varies by building depending on visibility and cost of construction|
|Interior naming of classrooms/labs/auditoria/residential rooms/||$25,000 – $1,000,000|
|General Endowment Fund||from $25,000|
|Program Support||from $25,000|
|Merit or need-based Scholarship||from $25,000|
|Faculty/Research/Development/Resources Fund||from $50,000|
|Full Scholarship (tuition and fees)||$350,000|
|Full Scholarship (tuition, fees, room & board)||$500,000|
|College-wide Center||from $4,000,000|
|Scholarship||from $2,500 with a 4 year commitment|
Approved by Converse College Board of Trustees February 12, 2016