Endowments ensure the University's mission and provide support for current and future students.
An endowment is a sum of money that is carefully invested and managed by the NEIU Foundation to ensure that the donor's long-term interests are met. There are different types of endowed funds and at different levels. The principal investment remains untouched, while the annual earned interest supports a variety of purposes, including student scholarships, lectureships and the like.
You can support this important initiative by establishing a named scholarship or fellowship, or you may designate an endowed fund to support a specific area of the University.
Because endowments are permanent funds that provide annual support in perpetuity, they are often chosen by donors who wish to establish a gift in honor, memory or celebration of a family member or friend. Many privately funded scholarships within the NEIU Foundation bear the names of these loved ones.
Endowed Scholarships and Fellowships
Endowed scholarships provide stability to Northeastern students, many of whom benefit greatly from financial assistance. The principal gift is invested by the NEIU Foundation to produce interest income in perpetuity. A portion of the annual interest income is used for the scholarship award, and the remaining investment yield is returned to the principal to grow the fund over time.
Scholarship endowments may be established for University-wide scholarship support, or they may be restricted to a college, department or program.
Fellowships are awarded to graduate students who excel in their field of study, and they may provide an opportunity to do further research or to practice their discipline while defraying the cost of tuition.
Endowed Funds for Colleges and Program Support
You may establish an endowment to provide permanent, annual support for a specific college, department or program. Lectureships enable the University to invite intellectually stimulating, unique and timely speakers and authors to campus.
There are many ways that donors may establish an endowment fund:
- Pledge fulfilled over a period of up to five years
- Outright donation of cash, check or via credit card
- Transfer of assets such as stocks
- Inclusion of the Northeastern Illinois University Foundation in your will
If you are interested in learning more about these opportunities, please contact Liesl Downey, Vice President for Institutional Advancement at (773) 442-4248 or neiufoundation@neiu.edu.