As an award donor, you may choose to pledge annually to a scholarship fund for a minimum of three years. In June of each year, the Student Awards office will send the donor a letter concerning the annual payment of your award. The donation will them be set up as an endowment fund for the exclusive purpose of funding an award each year. An endowed fund ensures that an annual award is given in perpetuity funded from the interest that the fund generates each year. Currently, SAIT spends the interest earned to a maximum of five percent of the principal invested to fund the student award.
Any additional interest earned is reinvested in the principal.
This keeps the endowment a step ahead of the rate of inflation and also helps to ensure the endowment principal grows each year. You may also choose to contribute to the endowment fund each year to augment the fund s principal. The Fund Development Department will assist the family or donor with the advice on fund raising to achieve this minimum. SAIT will then select the award recipients based on the criteria set by you as the donor. All donors receive a charitable tax receipt from SAIT for the value of their donation.