What is an endowment and how does it grow?
An endowment is a fund made up of gifts and bequests subject to a requirement that the principal is maintained and invested to create an ongoing source of support for an organization. Contributors may set up an endowment to fund a specific interest, and a nonprofit’s governing body may set up an endowment. An endowment requires the principal remain intact in perpetuity, or for a defined period of time or until sufficient assets have been accumulated to achieve a designated purpose. Once the endowment principal is in perpetuity, scholarships are awarded to students meeting the endowment’s purpose and award criteria. Each school or university has different parameters for establishing an endowment, or endowed award. In general, we have created endowment funds with $2,000.
We have seen some affiliated dental group sponsored endowments really grow, awarding up to $1,500 to one or more scholarship recipients annually!
Current endowments include:
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Baylor College of Dentistry
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Creighton University
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Howard University College of Dentistry
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Loma Linda University School of Dentistry
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Marquette University School of Dentistry
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Marquette University Orthodontic Residency
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Marquette University Endodontic Residency
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Medical College of Wisconsin – Pediatric Residency
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Meharry Medical College School of Dentistry
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Medical College of Wisconsin – Oral Surgery
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New York University College of Dentistry
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University at Buffalo School of Dental Medicine
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University at Buffalo School of Dental Medicine – Multi-Specialty Residency
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University of Alabama School of Dentistry
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University of Maryland Dental School
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University of Minnesota
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University of North Carolina School of Dentistry
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University of Oklahoma College of Dentistry
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University of Pittsburgh Dental of Dental Medicine
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University of Texas Health Science Center at Houston Dental School
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University of Texas Health Science Center at San Antonio Dental School
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University of Texas Health Science Center at San Antonio – Multi- Specialty Residency