As higher education becomes increasingly expensive, the Foundation appreciates the generous gifts from the CFISD alumni, business partners and community that lead to endowed scholarships for the students of Cypress-Fairbanks ISD.
Endowed funds differ from others in that they are truly the gift that keeps giving. Instead of the entire amount of the gift being spent outright, the total amount of the gift is invested. Each year, only a portion of the invested income earned is spent while the remainder is added to the original principal. An endowment is a perpetual gift because only the interest is used to support the Foundation while the principle continuously grows.
- Endowments may be established in the amounts of $20,000, $50,000, $100,000 or more.
- Endowments will be named for private individuals,corporations and organizations, in memory of individuals and in honor of individuals.
- A scholarship will be awarded on an annual basis once the endowment is fully funded.
- Endowments will be designed with the Foundation's minimum criteria and may also include special criteria.
- Until endowment is fully funded interest will be credited to the Foundation's General Fund.
- Should the endowment not reach full funding in seven years, the total amount donated will be transferred to the Foundation's General Fund.
- An endowed scholarship that is fully funded by December 31of a calendar year will be awarded for the academic year beginning the following fall.
- The donor will execute an endowment agreement with the Foundation to create a legal agreement for the endowment.
- All endowments have seven years to fund