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Trustee Matching Fund FAQs

 

What amount will Wofford College match?

There are three funding levels provided under the Trustee Matching Fund:
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Level One is reserved for donors who do not have a previously established fund held in the college endowment. Levels Two and Three may be used to create a new endowment or to add to an existing fund in the college endowment.

Are there restrictions on the type of endowment I can establish?

The primary goal of the Trustee Matching Fund is to raise endowed scholarship support so that Wofford remains competitive with peer institutions. However, consideration will be given to endowments for needs other than scholarships on an individual basis.

How do I claim matching funds?

Donors may request matching funds through a signed pledge form or executed endowment agreement.

How long do I have to fulfill a pledge?

The donor is obliged to fully fund the endowment with gift funds within a five-year period, normally in five equal installments. If for some reason the donor does not pay the pledged amount in full, Wofford College has the option of extending the time for the donor to complete the gift or redirecting the gift to the general endowment.

When will matching funds be transferred to my endowment?

No matching funds shall be transferred until the donor has contributed $25,000 to his/her endowed fund. Once the fund reaches a minimum of $25,000, gift accounting will initiate a transfer request for the corresponding matching funds. Matching funds will continue to be transferred on an annual basis, following as closely as possible the donor’s timeline, until the donor’s pledge is fulfilled.

When can Wofford use the investment earnings on my endowed fund?

The newly named endowed scholarship will be awarded once the fund has reached a minimum corpus of $50,000. If the endowment reaches $50,000 by December 31, an annual spending allocation will be made available in the following fiscal year.

 

Don't see the answer to your question here?

Contact Calhoun Kennedy in the Office of Advancement at 864-597-4211 or kennedycl@wofford.edu.

 

Provisions
All named gifts shall be approved by the president of Wofford College. Naming actions shall not detract from the institution’s values, dignity, integrity or reputation, nor shall any such action create a conflict of interest or confer special privileges. In the event of changed circumstances, the college reserves the right on reasonable grounds to revise the form of or withdraw recognition, in consultation with the donor whenever possible.

As with any endowment, if a donor wishes to change or expand the use of an endowed fund held in the college endowment, the donor should work with the Wofford College Office of Advancement to create an amendment to the gift agreement.

If, in the future, circumstances have so changed that it is no longer feasible in the opinion of the college to continue to use the funds as specified in the endowment agreement, the college shall be required to apply this fund to such purposes as may, in its opinion, most closely fulfill the intentions herein described. If any provision of this agreement is found to conflict with or violate any federal or state law or regulation, then that provision will be modified to bring the language into compliance with the conflicting law or regulation.