How to Establish a Scholarship at Montclair State University Funding a scholarship at Montclair State University through the Montclair State University Foundation may be accomplished by making current outright gifts of cash, stock, land, personal property or a deferred gift in a charitable trust or as a bequest. Endowments can be established to provide full or partial scholarships for undergraduate or graduate students. However, the Foundation will accept smaller amounts, to which additional sums may be added over time, to create award funds which will make awards out of a combination of principal and interest. One of the major advantages of establishing an endowed scholarship through the Montclair State University Foundation is that the fund will be carefully monitored to ensure that any special conditions or provisions related to the gift and the original intent are carried out in perpetuity. Principal remains intact and only the earnings are used for scholarship assistance.
Donors receive an income tax deduction for a current gift.
Should highly appreciated stock or other assets be used to fund the scholarship, any capital gains taxes may be eliminated. The endowment is prudently managed by a team of professional investment managers whose goal is to ensure that real spendable income is maintained for the future. Members of the Montclair State University Division of Institutional Advancement are available to help plan strategies that will allow donors to make significant gifts, while protecting and enhancing their personal finances. Donors of memorial gifts receive an acknowledgment and receipt from the Montclair State University Foundation, and the family is notified of the names and addresses of all donors. It is strongly recommended that donors who wish to establish a scholarship by bequest employ an attorney to prepare the will and to supervise its execution in order to comply with all the requirements of the law in the state in which the maker resides.