ENDOWED SCHOLARSHIP

• Local chapters, Sorors, Amicae or individuals, with approval of the Board of Managers, may set up a separate Scholarships endowment fund through the National Educational Foundation (NEF) with a minimum of $40,000.
• If the investment is less than $40,000, all funds for the endowment will be deposited in the Foundation’s Endowment Account.
• The local chapter, Soror, Amicae or individual may continue to contribute to the scholarship endowment account, and once the contribution reaches $40,000, the local chapter, soror, or individual may request that a separate endowment account be established.
• ​Only the interest on the separate endowment account will be available for the local chapter, soror, or individual to designate a scholarship award, after the account reaches $40,000.
• The local chapter, Soror, Amicae or individual shall mail the completed Endowment Scholarship Award Request to the Treasurer of the Foundation, when requesting the award of a scholarship.
• The requesting entity must assure that the awardees meet Foundation requirements.
• Local chapters, Sorors, Amicae, or individuals must allow a minimum of six weeks for processing the request.

NAMED SCHOLARSHIP

• Any chapter, Soror, Amicae or individual desiring to have a named scholarship (a one time, or yearly scholarship issued in the name of a specific person) must make an initial minimum contribution of $5,000.00 and execute an agreement with the Foundation to continuously fund the scholarship, if it is to be given beyond the initial scholarship.
• The named scholarship will be administered by the Foundation, and will only be awarded if the commitment for funding is kept.
• Relatives of the donor of an endowed named scholarship are not eligible as recipients of that scholarship. Relatives of members of a chapter that establishes an endowed named scholarship are not eligible as scholarship recipients of that scholarship.