Options for Minnesota Professional Engineers Foundation Scholarships
1. Endowed scholarship
An endowed scholarship is named for a person, company or organization. The money is collected from one or more people, invested by the MPEF finance committee and a percentage of the funds disbursed yearly for scholarships. The corpus of the endowment would remain in MPEF investment vehicles for a permanent fund.
There is a $25,000 minimum for endowed scholarships.
If the endowed scholarship collects more money, or the donor gives more than $25,000, either the amount of the scholarship could be increased, or MPEF could choose to give more than one scholarship.
2. One time scholarship
A one time scholarship is given by a person, persons or organization/company, with all the money being collected at one time or from one event, and all the money being disbursed.
3. Multi year scholarship, non endowed
A scholarship amount is pledged, over a period of years, with the money given each year and disbursed each year. It could be either named for the life of the pledge, for a group, company or person, or rolled into the general scholarship fund of MPEF.
4. Other options
MPEF can work with you to establish an endowed or named scholarship using various financial vehicles. Call us at 651-457-2347 to schedule an appointment to talk with us at your convenience.
For more information on endowed scholarships, contact MPEF at 880 Blue Gentian Road, #170, Eagan, MN 55121 651-457-2347