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"The Everlasting Gift to Mason Athletics"
Endowing student-athlete scholarships is critical to the future success of Mason Athletics by providing the resources necessary to attract talented individuals to represent George Mason. Every year, over 400 student-athletes representing 22 teams count on their scholarships as a means to learn and compete at this great university. Only with full scholarship support, made up of both annual giving and endowed scholarships, will allow Patriot Athletics to excel and compete for the best student-athletes in the country.
The major benefit of endowed scholarships is that funds contributed to the endowment are invested, and only a small percentage (4%) may be withdrawn each year, based on distribution policies established by the GMU Foundation. This insures that the endowment will continue to grow and provide many more opportunities in the future.
For example, an endowment fund with a three-year average of $100,000 will distribute $4,000 annually toward scholarships. Endowments serve Patriot student-athletes in perpetuity. As the endowment account continues to grow through additional gifts and investment dividends, it will provide even more resources to benefit George Mason student-athletes.
The Patriot Club endowment currently stands around $750,000, providing nearly $30,000 for student-athlete scholarships during each academic year.
A named endowed scholarship may be established for a minimum $25,000 gift, paid over a five-year period. An endowed scholarship will only be awarded when it is fully funded. Donors may choose to give, in addition to the endowment gift, an annual donation to be used for current-use scholarships during the funding phase. Scholarships may be named in honor of someone or something, and many are named in the memory of someone. Donors who wish to name a specific position on a team (e.g. The Joe Patriot Women's Basketball Point Guard Scholarship) may do so for a gift of $300,000 (payable over five years).
With current out-of-state (tuition, room, board, books, and fees) at George Mason costing almost $23,000, a fully funded endowment to 100% cover the cost of an out-of-state scholarship would be approximately $600,000. For an in-state scholarship ($13,000) to be fully covered through endowed funds, the scholarship would need to be funded at approximately $325,000.
Endowments may also be established through planned giving, such as through charitable remainder trusts (CRTs), Life Insurance and Will Bequests, among other ways. If you are interested in learning more about endowed scholarships or wish to discuss gift planning alternatives, please contact the Patriot Club office at 703.993.3217.
Suggested Ways to Fund an Endowment
Sample Funding Model to Name an Endowed Scholarship
Minimum Amount: $25,000
Year 1: $5,000 contribution (invested), plus a $1,000 contribution for current-use scholarships
Year 2: $5,000 contribution (invested), plus a $1,000 contribution for current-use scholarships
Year 3: $5,000 contribution (invested), plus a $1,000 contribution for current-use scholarships
Year 4: $5,000 contribution (invested), plus a $1,000 contribution for current-use scholarships
Year 5: $5,000 contribution (invested), plus a $1,000 contribution for current-use scholarships
After the fifth year, there will be $25,000 invested, generating approximately $1,000 annually to use for scholarships.
Benefits of Endowing a Scholarship
*Donors are suggested to always consult with a tax/legal advisor on all deductions.
We are grateful to the donors who, over the years, have funded endowments to benefit George Mason student-athletes:
