Leaving A Mark

There are several ways to leave a lasting gift to Goddard whether it be in a loved one’s memory or as a show of your support.

 

For more information, please contact:

 

Julie Martin, Director of Development

Julie.Martin@goddard.edu

123 Pitkin Road

Plainfield, Vermont 05667

802.454.8311 x327

 

Scholarships: Contributing to scholarships helps current students to attend Goddard, making it affordable into the future as federal and state financial aid programs come and go.

 

Endowment: Contributing to the endowment fund is a statement of your faith in Goddard’s legacy, as it begins its third century of operation. Endowment funds are invested and the principal is never spent, only the interest.

Establishing Named Scholarships at Goddard College

Goddard’s mission commits to the emancipatory power of education, education that connects the transformation of the individual with that of the society, education that underscores a just and inclusive society. Goddard College embraces academic excellence, diversity, and social justice as essential goals for the advancement of the mission.

 

Goddard’s vision will be realized when the Goddard academic community consists of individuals from the widest range of backgrounds and demographic categories, when the environment of the College community promotes equity, respect and recognition of currently underrepresented individuals.

 

With this in mind, the College welcomes specific scholarship funds that enhance the College's mission. Individual scholarship gifts might benefit those who find access to higher education financially difficult, such as single parents, those who have suffered from serious loss or illness, or whose commitments to service have not permitted financial wealth. Our mission aims to enhance Goddard as a diverse global learning community; thus, scholarship gifts that support the racial, ethnic and cultural diversity of our student population would greatly enhance our learning community.

 

Goddard is appreciative of endowed scholarships (money which is invested, with only the earned interest distributed), since they assist our current students while contributing to the perpetual health of the scholarship program. Scholarships can be named (which requires a minimum level of gift) or funds may be simply contributed to the Goddard Scholarship Fund.

 

Three Kinds of Scholarship Gifts

There are three basic types of scholarships:
 1. Named Endowed Scholarships,

 2. Named Annual Scholarships, and

 3. Gifts to the Goddard Scholarship Fund.

 

Sources of gifts can include: cash, appreciated stock, and IRA’s (Charitable Rollovers)

 

Named Endowed Scholarships

An endowment is a capital investment that generates (in perpetuity) annual income, which is then given out in the form of a named scholarship. The amount of the annual scholarship is calculated as the income from the endowed capital less an amount to be reinvested in the endowment to maintain its value. ·

• Named endowments are established through a minimum financial investment of $15,000.
  
• Named endowments can be created by a single gift or with a series of gifts over a maximum of 5 years.
  
• The full $15,000 must be invested for a period of one year before the first award is made.
  
• If an endowment is created over a period of years, the interest will be reinvested in the fund while the fund waits to be established; however the fund must still receive the minimum $15,000 investment from the donor.
  
• The donor’s wishes are established at the time of their first financial contribution and a gift acceptance agreement is signed.
  
• An endowed scholarship can be a memorial. 

Emerging Endowment
An emerging endowment has not reached the minimum endowment level of $15,000. Though there is a commitment to complete the endowment within 5 years, there is no spending until the endowment completed. Annual contributions may be made to support the annual award until the $15,000 minimum is fulfilled.

 

Named Annual Scholarship

As an alternative to endowing a gift, donors may create a named scholarship by signing an agreement to contribute $1,000 or more each year for at least 5 years or longer.

 

Goddard Scholarship Fund

Goddard College maintains the Goddard Scholarship Fund; everyone is invited to make annual or periodic donations of any amount. The scholarship gifts made to this fund are not named scholarships. The General Scholarship Fund is a crucial source of student support.

 

Scholarship support from The Goddard Scholarship Fund is awarded to students with demonstrated financial need, according to the Dean’s Council’s stated priorities for student enrollment, and those priorities will be reviewed from time to time.

 

Donor Agreements

Donors, in consultation with the College, can help determine who will benefit from an endowed named scholarship. All Goddard scholarships have a basic criterion of demonstrated financial need. Donors are encouraged to think about purposes in the broadest of terms, and all scholarships will reflect the College’s mission and ideals. A donor agreement is established at the time of the first financial contribution.

 

Administration of the Scholarship

• A copy of the gift agreement is given to the Donor, a copy is filed in the Development Office and the Financial Aid Coordinator receives a copy. The Financial Aid Coordinator will ensure the award is accurately advertised.
  
• Student applications will be forwarded to the Scholarship Committee, which meets at least twice each year. When the recipient is chosen and notified, the donor will be informed.
  
• The Goddard Scholarship Committee is comprised of 4-8 members, including the Dean of Enrollment Management, staff members from admissions, financial aid, student accounts, alumni and development and 1 to 4 at-large seats (open to staff, students, faculty and program directors).
  
• All available scholarships are listed on the Goddard website and in Clockworks annually.
  
• There may be additional recognition associated with individual scholarships, and can be discussed with the Director of Development.