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Post by Phaedrus on Apr 17, 2015 15:04:38 GMT -5
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Post by Wolfgang on Apr 17, 2015 16:50:15 GMT -5
I read somewhere that Hawaii is trying to get an endowment established to fund all 12 scholarships.
Once you're familiar with endowments and your school's procedure, there's no mystery or boundary. You can set up an endowment for just about anything (legal). However, you need a lot of money. All schools and institutions have different rules regarding endowments. Here's one example. Joe sets up a $100,000 endowment to generate a scholarship. The payout, per the school, is 5% per year. That means, this $100,000 endowment provides $5,000/year for the scholarship. You don't want the payout to be too big otherwise you may end up eating away at the corpus of the endowment. Joe wants his endowment to grow, not get chewed away. You can set various terms and conditions like minimum GPA, full-time status, residency status, major, etc. There's also a 1.5% administrative fee so $1,500 goes to the school to "maintain" this endowment. With time, this $100,000 should grow if the school is wise with investments and if Joe pumps more $$$ into it.
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Post by vbfamily on Apr 18, 2015 14:37:55 GMT -5
Really good article. Off topic a little, but I think that ultimately that is what a coach should strive for...making an impactful relationship with all or most of their players over the years. We've all heard or experienced great coach/mentor stories and I'm sure of big fan of coaches that can accomplish this!
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