A transfer of money or property donated to a public institution, college or university, or a charity for a charitable purpose, such as a scholarship—perhaps athletic in nature, to WSU-ICAA (WSU Athletics); the initial amount or principal is held forever and is invested in a manner designed to protect it from inflation. The interest generated from the investment is used for the purpose specified by the donor.
The endowment of student-athlete scholarships to an athletic department, such as Shocker Athletics, that pays both in-state and out-of-state tuition for it’s student-athletes is extremely important, again, because there are no tuition waivers available to it. Endowing a student-athlete scholarship is not only a tremendous accomplishment; it is a significant tribute to each donor who makes it possible.
Fully-funded sports would allow Shocker Athletics to put an end to the syndrome of robbing Peter to pay Paul, and free-up other resources, historically used to bridge the gap and pay tuition, for the always needed enhancements and expansion attendant to collegiate athletics. And, it would facilitate Shocker athletics programs efforts to attract student-athletes whose performance will make Shocker athletics the competitive program its fans and supporters want and expect.
An endowment can be created and effected through a donor’s will as a bequest; and, it also provides a well deserved naming opportunity for the donor. In more ways than one, an endowment leaves a lasting reminder of care and concern for others.