- The amount needed to establish a named endowment at Canisius College is $25$50,000.00. The fund may be started with a smaller amount provided that it is the intention of the benefactor to reach the $25$50,000 level over time.
- Minimum amount to establish academic department funds, professorships, and chairs will be determined by the vice president for institutional advancement in consultation with Senior Leadership Team.
- In the case of scholarship funds, the benefactor may specify that the scholarship is to be awarded (a) solely on the basis of academic merit, (b) solely on the basis of financial need, or (c) on a combination of academic merit and financial need.
- The benefactor may further specify that the scholarship should be given to (a) student(s) in the College of Arts & Sciences or a specific department within that college, (b) student(s) in the Wehle School of Business or a specific department within that school, (c) student(s) in the School of Education and Human Services or a specific department within that school or (d) students within a particular class or category that is sufficiently broad and whom the college wishes to recruit (e.g. graduates of principal feeder high schools).
- The benefactor may suggest other criteria for the awarding of the scholarship, but such restrictions must be discussed with the college to ensure that the targeted class is of a sufficient size that would enable the college to award the scholarship each year.
- With respect to any criteria desired by the benefactor, the college prefers that all criteria be stated as a first preference: that is, that if the college, after reasonable efforts, is unable to award the scholarship to a student meeting the exact criteria, the college would undertake to award the scholarship to another worthy student who meets as many of the criteria as possible. After criteria are established, the college’s Office of Student Records and Financial Services will select students based on criteria for a particular scholarship.
- Scholarship accounts may not be established to make tuition payments and/or provide for financial gain for a related party or family member of the donor. A donor or member or representative of the donor’s family may not solely select the recipient(s) of a named scholarship; however, a donor or member or representative of the donor’s family may participate in an objective selection process as a member of a committee, in which case donors or their family members or representatives may not make up the majority of the committee. Members of a selection committee must disclose any relationship with any applicant and in the case of a relationship that would create the appearance of a conflict of interest, must refrain from voting on that particular applicant.
- Benefactors establishing an endowed scholarship will receive an annual accounting of the scholarship fund from the college. The accounting will include the current market value and the name(s) and amount awarded for any recipient during that year.
- In the case of donations made to the college in honor of or in memory of another person, the college will consult with the individual or family of the individual so honored to ascertain the honoree’s wishes. If there is a desire to fund the scholarship at the minimum level (whether through the solicitation of donations from others or through a commitment by the honoree or the honoree’s family), a separate endowed scholarship in the honoree’s name shall be established. Except in extenuating circumstances authorized by the college president, if the scholarship is not fully funded within five years of formation, any donation funds received will be transferred to the College Commemorative Endowed Scholarship Fund (Endowed) and designated in honor of the honoree.
- With respect to other endowed funds, the college and the donor must agree on the purposes of the fund and the recognition to be accorded the donor. In particular, endowed funds that would require that the college present an award or some other periodic recognition in the name of the donor or the donor(s)’s family must be approved by the vice president for institutional advancement and the president.