Gift Fees in Practice: A Candid Conversation on What Really Works-Endowment Annual Report Cover Letter Explaining New Fee

Endowment Annual Report Cover Letter Explaining New Fee

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The document is a donor letter from the SLCC Foundation in Lafayette, Louisiana, thanking a donor for supporting an endowed scholarship and endowed professorship tied to South Louisiana Community College’s Oil & Gas programs. It explains that the endowments were established in 2015–16 to help recruit and retain students and instructors.<br /><br />The letter reports that the endowment funds have been performing steadily and that the Foundation’s Finance & Audit Committee approved a 4% disbursement from both the scholarship and professorship fund balances. It notes that a new scholarship recipient for Spring 2021 will be selected based on the donor’s criteria, and that the donor will be updated once the selection is made. The letter also mentions that information is available about the current endowed professor and the Spring 2021 scholarship recipient.<br /><br />The Foundation invites the donor to make additional contributions to grow the endowment and increase its long-term impact. It also informs the donor that, beginning in July 2021, a 1% administrative fee was approved for endowed accounts to cover the rising costs of managing scholarships and professorships.<br /><br />Finally, the letter emphasizes the major growth of the SLCC Foundation’s endowment portfolio, which has increased more than 15 times since 2014, and thanks the donor for helping support SLCC’s workforce development and faculty excellence. It closes with a statement that the SLCC Foundation is a 501(c)(3) charitable organization and that donations are tax deductible as allowed by law.

Keywords

SLCC Foundation

endowed scholarship

endowed professorship

Oil & Gas programs

South Louisiana Community College

donor letter

endowment disbursement

workforce development

faculty excellence

tax deductible donations