Endowments

S A M P L E

Bill Smith Scholarship Endowment Fund

In March 2099, Jane Smith, a trustee of Princeton Theological Seminary from 2090-present, gave $500,000 to Princeton Theological Seminary to establish a named scholarship endowment fund in honor of her father, who was a Princeton alumnus of the Class of 2050 and served churches in Hawaii, California, and Arizona.

The parameters of this scholarship are as follows:

• Funds for the scholarship are placed in the Seminary’s endowment where they will be invested according to the Seminary’s endowment policy. The fund income will be expended according to the Seminary’s spending policy.

• The corpus of the fund is not to be invaded. Any annual income available for the award but not expended in a given year shall be returned to the fund and available for expenditure in future years.

• Additional gifts of any size may be made at any time. Such gifts designated to this fund will be placed in the corpus unless otherwise indicated by the donor.

• Each year, the income from the fund will be utilized to support one or more students with demonstrated financial need and academic promise.

• Recipients will be selected by the Director of Financial Aid, who will notify the Office of Seminary Relations of the recipient’s
  name(s).

• The Office of Seminary Relations will forward the name of the scholarship recipient to Ms. Smith on an annual basis and ask the recipient to write a personal note of thanks to the donor.