Establishing an endowment offers support for learners and faculty to continue the mission of SIU School of Medicine in perpetuity.
An endowment account is created under the terms of a gift agreement, which indicates the account is not wholly expendable on a current basis. Contributions to an endowment can be in the form of cash, securities, life insurance or real estate. You may also establish an endowment through planned giving options, including your will or charitable trusts.
New contributions to endowment accounts are invested quarterly into the endowment investment pool. Interest, dividends, realized capital gains/losses, unrealized gains/losses and other investment income are allocated monthly to the endowment account based on the number of shares the account owns in the endowment pool at the beginning of the month.
An endowment account has a corresponding expendable account. A portion of the endowment account revenue is distributed annually to this corresponding expendable account to be used for the endowment’s stated purpose indicated in the gift agreement.
The minimum amount required to establish an endowment is $25,000 (payable over a period of up to five years). When you create an endowment, you are creating a legacy that lives forever. This option allows you to pay tribute to a loved one, special mentor, your family or yourself.
Endowed Chair: $2 million or more
May be used as salary supplement and support such as graduate assistants, travel, equipment, etc., to the chair holder
Endowed Professorship: $1 million or more
May be used as salary supplement and support such as graduate assistants, travel, equipment, etc., to the holder of the professorship
Endowed Visiting Lecturer: $250,000 or more
Support to host notable individuals on campus; includes, but is not limited to, stipends for the lecturer, travel expenses, publication costs, etc.
Endowed Faculty Fellowship: $100,000 or more
May be used as salary supplement and support such as graduate assistants, travel, equipment, etc., to the fellowship recipient
Endowed Graduate Fellowships: $50,000 or more
Supports stipend supplements to graduate students
Endowed Scholarships: $25,000 or more
Provides merit, diversity and need-based scholarships to students
Facilities (Generally 51% of the Cost)
Naming opportunities are available for buildings and other facilities such as labs, classrooms, athletic fields, arenas, etc. Such naming opportunities must be approved according to University policies and practices prior to any commitment being made to the donor.
The Foundation charges an annualized one and a half percent investment fee on endowments. This fee is based on the balance of the endowment as of December 31. The fee is to defray expenses and support the general charitable purpose of the Foundation. Endowments are also charged the investment manager’s fee, which was 35.2 basis points or .352% for FY14. The Foundation General Fund incurs the cost of the investment consultant.
SIU Carbondale and the SIU Foundation retain a small percent of all gifts to enhance philanthropic-related initiatives. It is the Foundation’s goal to increase private support, which will assist the University's various colleges in providing quality services to the students, alumni and the communities it serves.