Thank you for your interest in establishing a scholarship through the Black Alumni Society. We have many individuals who have set up named scholarship accounts that support students attending the University of Arkansas. We would be delighted to assist you in creating a scholarship through the Black Alumni Society. Below is some general information regarding the scholarship process. Please contact Robin January, Arkansas Alumni Association Coordinator (note: Robin also supports the Black Alumni Society), to discuss your scholarship plans (Office: 479-575-6391; Email: firstname.lastname@example.org).
I want to set up a scholarship through the Black Alumni Society. Where do I start?
First, determine the type of scholarship you would like to establish. There are two types at the University:
- Endowed Scholarship - An Endowment is a fund held by the University of Arkansas Foundation in which the contributions are never spent. Once an award or scholarship reaches the designated endowment level, the investment supports scholarships into perpetuity through the interest earned off of the principal. Endowments established through BAS begin at $25,000 or $50,000. A $25,000 endowment will generate approximately $1100 annually for awards.
- Non-endowed Scholarship - A non-endowed account allows all contributions to be used for scholarship awards. There is no minimum dollar requirement for the account, but we do ask that donors make a minimum 5 year commitment which will allow the Black Alumni Society to distribute your scholarship funds for at least 5 years.
I've determined my level of commitment. What are my next steps?
Contact the Arkansas Alumni Association (who also supports the Black Alumni Society) Coordinator, Robin January, who will assist you through the process. (Office: 479-575-6391; Email: email@example.com)
Select a name for your scholarship
Consider your criteria for the scholarship
Student standing - available to undergraduates, graduate students or both?
Geographic area - will it be limited to a specific region?
Field of study - will the scholarship be limited to specific colleges and/or majors
i. Minimum GPA and standardized test score for incoming freshmen
II. Minimum GPA and enrollment hours for current students
- Is financial need a factor?
- Will this be a scholarship to encourage educational diversity? Please note: We cannot restrict scholarships to a particular ethnicity, but an applicant's contribution to a diverse educational environment can be assessed through the application and selection process.
- Is the scholarship renewable?
i. Minimum GPA and credit hours required for automatic renewal
- Determine your scholarship award amount
I've drafted my scholarship name and criteria. How do I get it set up?
Once you have determined your dollar commitment, scholarship name and criteria, Robin will submit a Gift Agreement draft to the Development Office and Legal Counsel. Once the draft has been approved, Robin will submit the Gift Agreement to you for signature and then route it through University Advancement for Additional signatures. During that time, Robin will also submit paperwork to open a scholarship account through the UA Foundation and collect the initial contribution to the account.