Reflections Magazine Issue #60 - Fall 2003 | Page 16

!mpact!
Gifts and
Giving

14
Endowed Scholarships
Perpetuate the Memory
Of Sisters Who Helped
Shape Siena Heights
Alumni and friends recently initiated
fund raising for new endowed
scholarships named in memory of
three legendary Adrian Dominican
Sisters: Helene O’Connor, OP,
Mary Philip Ryan, OP, and Miriam
Michael Stimson, OP. Six other
previously endowed scholarships
honor the memories of other Adrian
Dominicans (see box and sidebar).
In earlier years, the Adrian
Dominicans were visible everywhere at Siena Heights: in classrooms, residence halls, offices,
even the gym. Today, with fewer
sisters on campus, “it is increasingly important to find ways to
keep the Adrian Dominican spirit
alive and well,” says Sharon
Weber, OP, dean of Siena’s
College of Arts and Sciences.
“These endowed scholarships
ensure that future students will
know the great names of our
past,” Weber adds. “And scholarships are a great tribute to women
who believed passionately in the
transforming power of education.”

Gifts are welcome to
strengthen these scholarships. For information, or to
start a new endowed fund,
contact the Advancement
Office at [phone].

Ensuring
the Adrian
Dominican
Legacy
Endowed Scholarship Q & A
What is endowment?
Endowment is money that is not spent but instead
is invested to produce interest that can be spent.
An endowed scholarship generates annual income
specifically for student aid. Like the enduring
influence of the Adrian Dominicans, a gift to the
endowment is permanent and powerful.
What does it take to endow a scholarship?
A minimum of $10,000 is required to endow a
scholarship. Smaller gifts are held in a restricted
fund until the minimum endowment is reached.
What’s the impact of a $10,000 endowment?
A $10,000 endowment typically will provide an annual
scholarship of about $500. A larger endowment will
generate more or larger scholarships.
What’s a good goal for an endowed scholarship?
A $50,000 endowment fund can generate about
$2,500 in annual financial assistance, enough
to make a significant difference for one or more
talented students.
Can anyone contribute?
Absolutely. Typically, a scholarship endowment is
initiated with a lead gift from one or more individuals
and then built up with contributions from many
other people.
Why are scholarships a good way to honor
the Sisters?
The Adrian Dominicans welcomed students without
regard to financial means. If a student wanted to
learn and wanted to be here, the Sisters found a way.
Endowed scholarships enable Siena Heights to “find
a way” for students who need help.