CREATING AN ENDOWMENT
Endowment funds for the benefit of Fairmont State University and Pierpont Community
and Technical College are held by the Fairmont State Foundation, Inc. a 501(c) (3)
organization whose purpose is to receive and manage private contributions for the
benefit of both institutions.
How It Works
Endowments are great tools for a university or college to use to ensure the security of the principal
amount of a gift. It also establishes a perpetual source of funding for the benefit of Fairmont State
University and Pierpont Community & Technical College. Creating an endowed fund gives you an opportunity
to put your name or the name of another person or organization on the endowment in memory or tribute.
A minimum amount is usually required to establish an endowment with scholarships being paid from the
Each endowment is a source of permanent financial support above and beyond the income
generated by student tuition and fees. As our endowments grow, so does our strength and stability.
Endowments help fund:
● Faculty chairs and professorships
● Graduate fellowships
● Undergraduate and graduate scholarships
● Program support
● Visiting scholars/lectureships
● Research support
● Student internships
Endowments can be developed by an agreement between the donor and the Foundation that will state
whether or not the funds are to be restricted to a specific department or unrestricted funds that can
be used to meet the most critical needs of the University or College. Donors can also name a new
endowment, choose to honor a loved one, recognize a favorite professor or create the endowment in
their own name.
There are two ways an endowment can be established; one way is an outright gift of cash or
stock. When these gifts are made, an endowment can be established immediately, or the gift can
be given as a pledge over a period of up to five years. The second way is through deferred or planned
gifts. These gifts can be used to establish an endowment in the future when the total sum of a gift is
received. Normally these gifts are given as life insurance, retirement assets, bequests, or income
The Fairmont State-Pierpont Foundation will work with each individual donor to create a detailed
plan for giving to the university or college. The Foundation will provide all relevant information that is
needed to make decisions on;
● What asset a person would like to use when giving a donation.
● What guidelines the Foundation will use when awarding the endowment.
CREATING A SCHOLARSHIP
Attracting Outstanding Students
Donations supporting need- and merit-based scholarships enrich the Fairmont State University and
Pierpont Community & Technical College by attracting outstanding students with diverse
talents and experiences.
The Importance of Scholarships
In order to keep the best students coming to our shared campus, we must continue to offer a wide
range of competitive scholarship opportunities. When a new scholarship fund or endowed scholarship is,
established, we help you determine the criteria for choosing scholarship recipients. In this way, your
values and goals continue to make an impact through your gift.
Establishing an endowed scholarship is a wonderful way to make a difference in the lives of students
for years to come while also creating a legacy for you and your family. Fairmont State-Pierpont Foundation
offers a variety of giving options to afford donors at every level the opportunity to make a difference in
the lives of our students through scholarship support.