The Nuts and Bolts of Developing Named Scholarships
There are two primary ways to fund named scholarships. In both instances, donors can participate in both naming the scholarship and helping to develop scholarship criteria.
“Pass Through” Scholarships
- Funded on an annual basis. Requires minimum of $2,500.
- Award is based on the specific amount donated. Award is typically made in the year following gift, though donor can request award be made when given, provided the gift is made early in the academic year.
Recently funded “Pass Through" Scholarships include:
The Beulah Hill Tinsley Scholarship, Mary E. Crook Jones Scholarship, Roswell Cunningham Wilson Scholarship, and the Miriam Hardee Wilson Scholarship have all been funded by Thomas L. Wilson ’47, Rock Hill, South Carolina. The students who receive these scholarships must be from North Carolina, South Carolina, or China.
The Skip Liles Golf Scholarship was established in honor of Skip Liles ’69 by his wife, Susan Liles ’71. The recipient of this scholarship will be a Mars Hill College golfer.
- Are perpetual
- Corpus (principal) is preserved
- Requires minimum $20,000 investment, which can be funded over a five-year period.
- Awards will be made as a percentage of investment income, based on the corpus amount, as set by the Board of Trustees. This amount is currently 5%.
Recent Scholarships achieving endowed status:
The Joe T. Moore Scholarship, named for alumnus Joe T. Moore ’50 of Gafney, South Carolina, is established to assist Mars Hill College students from North Carolina and South Carolina majoring in business.
The Mamie, Bryan and Sadie Wallin Scholarship was established in 1991 by Bryan and Sadie Wallin, ‘44. The purpose of the scholarship is to assist a student from Madison County.
The Wilhide Biology Scholarship was established by Tom Moore Davis ’42 in memory of his classmates, Robert and Wallace Willhide. Both brothers served as Marine aviators and were killed during World War II. The scholarship assists students majoring in biology.
The James M. and Gwyn Pierce Fish Endowed Scholarship Fund, was established by friends of the Fish family. Both Jim and Gwyn were graduates of Mars Hill College Class of 1943. Preference in making awards is given to Spanish majors.
The George Nial Stroupe Scholarship, established through the estate of George N. Stroupe ’31 of Morganton, North Carolina, assists students exhibiting financial need with preference given to veterans of U.S. military service.
The Helen Cole Krause Music Scholarship has been established to provide financial assistance to freshmen or transfer students who have declared music as their major at Mars Hill College. The scholarship has been established and funded by Mark G. Cabaniss ’82 in honor of his beloved Shelby High School choral director, Helen Cole Krause.
The Virginia Hart Endowed Tennis Scholarship was funded by Dr. Hart’s friends and former students. This endowed scholarship fund was established in honor of Dr. Virginia Hart ’43, professor emeritus of physical education. The student that is eligible to receive this scholarship must be a member in good standing of either the women’s or men’s tennis program at Mars Hill College.
The Herbert, John, and Luther Vann Endowed Scholarship has been funded through the Carolyn Vann Irvin ’22 Charitable Remainder Unitrust. The recipient of the scholarship is required to maintain a 3.2 grade point average and should demonstrate traits of good citizenship.
The James H. Montgomery Regional Studies Endowed Scholarship was established to motivate Mars Hill College students to broaden their understanding and appreciation of the history, culture, and environment of the Southern Blue Ridge Mountains Region.
For further information on establishing scholarships contact the Institutional Advancement Office at (828) 689-1102.