One person's gift can inspire a tradition.A contribution from your personal success will afford future students the chance to write their own success story. Your gift can be an individual expression of your vision and goals for the future of SUNY Cobleskill and its students.
Over 75 percent of SUNY Cobleskill students are in need of some form of financial aid. One of the most meaningful ways to help students build a foundation for a lifetime of success is to endow a scholarship.
An endowed scholarship is established through a gift placed in a permanent fund.
That gift is invested by the SUNY Cobleskill Foundation. Each year, interest income from the fund is used in the manner designated by the donor. A small portion of interest is returned to the fund to ensure its value keeps pace with inflation and rising education costs. Donors are assured their endowments will provide the same benefits decades from now as they did when first established.
You may choose to name your endowed fund for yourself or in honor or memory of a loved one.
Student recipients of such scholarships receive information about the donor and the person(s) for whom the endowment was established. Each year donors are invited to a recognition event where they are honored for their contribution and have the opportunity to meet the student(s) benefitting from the endowment.
Benefactors may choose the focus of their endowment.
Funds may be designated for a particular area of study and benefactors may play a role in determining criteria for the scholarships. Of course, the greatest benefit is achieved by establishing criteria that allow the college to apply funds to areas of greatest need.
Endowments may be funded over a period of up to five years and by multiple donors.
Endowed scholarships can also be established through an estate plan, using a bequest, charitable trust or life insurance. Currently, the minimum amount necessary to establish an endowed scholarship at SUNY Cobleskill is $10,000. However, the higher the level of giving, the greater the amount of the annual award or the greater the number of awards that can be made. For example: a $10,000 endowment funds an annual scholarship of $500; $20,000 funds a $1,000 annual scholarship; and $100,000 funds an annual scholarship of $5,000, two annual scholarships of $2,500, or five annual scholarships of $1,000.
The financial benefits of endowing a scholarship can be as attractive as the altruistic ones.
You receive a tax deduction the year the gift is made. Should the gift be made via appreciated securities, you may deduct the full market value, avoiding capital gains tax. Endowing a scholarship through your estate may also reduce your estate taxes.