Scholarships are awarded from the interest that the money earns. You don't have to host a golf tournament or serve as college president to endow a scholarship, Rochford said. Peterson began the scholarship fund many years ago with steady donations to the Fort Lewis College Foundation through a payroll deduction program. Many of the Foundation's endowed scholarships started just as simply. They started as a small annual contribution to honor a parents' anniversary or a loved one's birthday or as a memorial gift to honor someone's passing.
Many donors ask friends and family members to help with the endowment they've started.