Endowments and Scholarships

The long-term success of Concordia University depends upon the university's ability to increase endowments, especially scholarship endowments.

Years ago, loyal visionaries of the university set up scholarship endowments and other permanent funds to reduce tuition costs for students. But with the cost of higher education on a steep incline, ninety-two per cent of our students today are applying for financial aid. The income from our current endowments can only cover a small portion of this aid. Most university applicants are forced to fill the gap between their personal funds and scholarship awards with student loans. New endowments (and new gifts to previously existing endowments) are needed to ensure that qualified students with a passion for learning and servant leadership have the means not only to attend Concordia, RF, but also graduate without a burdensome debt load.

We encourage you to join us in making a Concordia, RF education more affordable for today’s students, and for future generations of students, by establishing and regularly supporting a scholarship or other endowment fund. Scholarship endowment gifts are also recognized and counted toward the campaign total of For the Sake of the Church. This initiative of the Lutheran Church-Missouri Synod promotes scholarship endowment giving across the 10 campuses of the Concordia University System.

How does an endowment work?

An endowment is similar to a permanent savings account in that contributions to it become invested principal. A portion of the earnings generated from the endowment’s invested principal is used each year to support the charitable purpose specified by the individual or family who established the endowment. Because a portion of earnings is also returned to the endowment for reinvestment, the endowment is likely to grow over time. If so, earnings will also increase, keeping pace, to a greater or lesser degree, with the rising cost of carrying out the endowment’s charitable purpose.

How do I establish a named scholarship endowment at Concordia University?

A minimum gift of $30,000 is required to establish a named scholarship endowment. The endowment may be funded with a current gift, or series of gifts. Some individuals have planned to fund their named endowment through a gift under their will (a bequest) or living trust, or through the remainder of a gift annuity, charitable remainder trust, with the proceeds of a life insurance policy, or designation from their retirement plan fund. Many persons whose endowments currently meet or well-exceed the $30,000 minimum have also pledged an additional final gift from their estate or other planned gift to maximize the performance of their endowment in the years to come. Often times a next generation will contribute to the endowment of a parent, grandparent or other relative or friend, creating a legacy of lasting proportion.

What is special about a named scholarship endowment?

Concordia, RF scholarship endowments bless both donors and students. When an endowment has reached a minimum level of $30,000, one or more scholarships will be issued to the student in the name of the endowment. The student recipient will then correspond with his or her benefactor to provide thanks and share information about academic interests and family. As endowments continue to provide income for new scholarship recipients in perpetuity, the relationship between student and donor family may last many generations. In addition to the personal interaction, endowment donors are entitled to specify how the income from their endowment is used. Students pursuing church work careers (Lutheran teachers, pastors, DCEs and deaconesses) and those engaged in a variety of music careers receive the majority of scholarship endowment support at Concordia, RF today.

Can I make an endowment gift that is less than the minimum amount for a named scholarship endowment?

Yes! Your gift will be added to a previously existing endowment that supports your particular area of interest. Gifts can also be made to the Concordia, RF general endowment fund. Income from the general endowment supports a wide variety of current, pressing needs of the university, including general scholarship awards to students.

For more information on scholarship and other endowments, please contact:

Tom Foote, Associate Vice President for Major Gifts
Phone: 708-209-3142
Email: tom.foote@cuchicago.edu