Chapter Scholarship Endowments

Endowment Overview

• Endowments are managed by the Association’s Investments Committee.
• General endowments require a minimum of $7, 500 for Texas Exes chapters. The chapter can begin depositing with a smaller amount to save toward any endowment.
• The current policy is for an endowed fund’s market value to be averaged as of the end of the calendar year over the previous 12 quarters. 4.7 % of that average can be disbursed as scholarships for the next academic year, with a small percentage from each fund also paid for administrative fees. A fund must be in investment for four quarters as of December 31, before disbursement can begin.
• Funds for chapter scholarships must be managed by the Association rather than held locally and invested in order to protect chapter volunteers as well as the fund.

Steps for endowing a Chapter Scholarship

• Chapters must complete a chapter endowment agreement and have it signed and on file with the Association.
  -Chapters can fill out the background information on the endowment and the eligibility requirements.
  -Eligibility requirements can be changed within reason. It will require signing a new endowment agreement to keep on file at the Association.
  -Chapter endowments can be named in someone’s honor.
• Send checks to Kristy Kimball, P.O. Box 7278, Austin, TX 78713
  -Indicate that money is to be placed in an endowment