When determining the annual award amount, consider your goals for the scholarship. Do you want your scholarship to live on indefinitely or to spend down over time? Do you plan to add to the fund annually, or would you like the fund to support itself into the future? Scholarship awards are determined by the following (please note, at no time will the principal - the original gift - be expended):
O The KSU Thorobreds Foundation Inc.'s Annual Spending Calculation (RECOMMENDED). The amount will vary somewhat year-to-year, but allows for the maximum scholarship payout without impacting the long-term availability of the fund. This is best for scholarships that you wish to exist indefinitely. The 2024 Annual Spending 12 Quarter Average Rate is 3.95%.
Setting a Fixed scholarship amount or fixed percentage of the scholarship account to annually support the funds available to students.
We recommend the first option as it ensures your scholarship produces funds to support students annually with financial support.
Scholarships may be awarded for only one year, recipients may be allowed to apply every year, or the scholarship may be renewed each year with proof that scholarship criteria have been met.
If you would like your scholarship to be renewable, consider the renewal parameters. The parameters can be as broad as maintaining good academic standing, or as narrow as maintaining a specific major and minimum GPA. Prior to sending renewal scholarship awards, the KSU Thorobreds Foundation, Inc. verifies student enrollment and that renewal requirements are met by each student.
○ The scholarship is not renewable. The recipient can only receive once.
○ The scholarship is not automatically renewable, but recipients are encouraged to reapply.
○ The scholarship is automatically renewed so long as the student meets the criteria of the scholarship or the following parameters
Are you considering a Restricted Account (non-interest bearing) or an Endowed Account (interest bearing)? Restricted accounts are accepted to be given out in the year received to students (award period) not to be held by the KSU Thorobreds Foundation, Inc. to accumulate fees.
When considering your impact on students, do you intend to support the scholarship annually, with a one time gift, or ensure its support by including your scholarship in your estate plans?
The table shows the estimated annual scholarship impact based on the endowed balance.
| $10,000 = $400 | $100,000 = $4,000 |
|---|---|
| $20,000 = $800 | $250,000 = $10,000 |
| $25,000 = $1,000 | $500,000 = $20,000 |
| $50,000 = $2,000 | $1,000,000 = $40,000 |
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An often-overlooked component of developing a scholarship is notifying potential recipients of its existence. While the Kentucky State University Thorobreds Foundation, Inc. communicates daily and directly with Kentucky State University students that are noted in the scholarship criteria, you may also share your scholarship information with potential applicants. However, please do not promise or commit to any student that they will be the recipient as we will not breach any IRS regulations. Your committee must select the recipient.
CONTACT US TO CREATE YOUR SCHOLARSHIP AGREEMENT WITH YOU AND THEN AWARD FIRST RECIPIENTS
The KSU Thorobreds Foundation, Inc. exclusively serves the nearly 2,900 students of Kentucky State University. The Foundation maximizes private support for Kentucky State University by fostering lifelong relationships with key stakeholders and providing advancement leadership and fundraising services for the students and programs across the University. Donors can support or establish unique funds, as well as document planned gifts to make a difference in the lives of the students of the University. The KSU Thorobreds Foundation, Inc. is a IRS recognized 501(c)(3) non-profit.
Establishing a scholarship leaves a lasting legacy to Kentucky State University and we will help you every step of the way. Please contact our Scholarships Office, by calling 502-597-5500 or by emailing foundation@kysu.edu. Learn more about the KSU Thorobreds Foundation, Inc. and our Scholarship Funds by visiting www.kysu.edu/foundation.