In our meeting in Franklin with a Belmont University delegation, we discussed the possibility to establish an endowment scholarship fund in the name of Melinda Doolittle. We are still working on the Agreement and will post the details as soon as possible. In the meantime, we want to give you some information about what an endowment fund is and how it operates.
What is an endowment fund? The gift that keeps giving
An endowed scholarship provides a permanent and personal way for us and Melinda to make a difference in the life of a Belmont University student. Many students depend on some sort of financial aid to achieve their dreams of a college education. We can help turn their dreams into reality, now and in the future, by establishing an endowed scholarship fund in the name of Melinda Doolittle.
Endowed funds differ from others in that they are truly the gift that keeps giving. Instead of the entire amount of the gift being spent outright, the total amount of the gift is invested. Each year, only a portion of the invested income earned is spent while the remainder is added to the original principal. An endowment is a perpetual gift because only the interest is used to support the University while the principle continuously grows. It is a great way to link Melinda’s legacy with the future of Belmont University forever.