Q&A: Provide Financial Support for NYU Rory Meyers Students and Create an Enduring Memorial for a Loved One
NYU Rory Meyers College of Nursing’s most urgent need for funding is to support scholarships. Many of our alumni and friends have chosen to create named scholarship funds as a way to support the next generations of nurse leaders. You, too, can support scholarships through your annual giving or through a bequest in your estate plans.
Q: How can I start a scholarship?
A: You can create a named scholarship with an annual gift of $5,000 or more and your sustained annual giving keeps the scholarship going.
Q: What is required to endow a scholarship award so it can be given in perpetuity?
A: You can establish and endow a named scholarship with a minimum gift of $100,000. Your gift will then be permanently invested as part of the College’s endowment.
Q: How much would NYU Rory Meyers College of Nursing award to students each year from this permanent endowed fund?
A: NYU spends approximately 5% of the market value of its endowed scholarship funds each year. So, a named account with invested principal of $100,000 will generate approximately $5,000 annually. A named fund with invested principal of $1 million will generate approximately $50,000 each year. The annual investment earnings in excess of the awards are applied back to the invested principal to help it grow and increase future scholarship awards.
Q: May I choose the name of the scholarship?
A: Yes, you may name the scholarship after yourself or anyone you choose.
Q: Can I establish a scholarship in my will?
A: Yes, you can establish and endow a named scholarship fund in your will for NYU Rory Meyers College of Nursing students. Many of our alumni and friends who fund scholarship awards through their annual giving include NYU Rory Meyers College of Nursing in their estate plans so that the scholarships will continue to support future generations of nursing students.
To learn more about how you can include NYU Rory Meyers College of Nursing in your will, contact Karen Wenderoff, director of development, at 212-992-5924 or firstname.lastname@example.org.