Truman State established a memorial fund in memory of freshman William Batterson, who died Sept. 14.
Lou Ann Gilchrist, Vice President of Student Affairs, announced Sept. 22 that Batterson’s family will create a scholarship in his memory. Planned Giving Officer Brad Chambers is working with Batterson’s family to set up the memorial scholarship.
Batterson’s parents were unavailable for comment, but Chambers said they will move forward with the scholarship plan and are in support of Truman dedicating the 2015 Forever Bulldog 5K to Batterson. Chambers said organizers are asking that students make donations and get involved with the Oct. 10 5K. If students register for the 5K by Friday and agree to help raise money for the cause, their registration fee for involvement will be waived, Chambers said.
“We are asking that students reach out to their parents, friends and other individuals and hopefully bring together $100 [total] to donate toward the benefit,” Chambers said.
The scholarship will be an endowment fund. Chambers said there are two general types of scholarships — annual scholarships and endowment funds.
Chambers said an annual scholarship means a donor is making a gift commitment of at least $1,000 for the next four years, which is awarded to a student within the year.
Chambers said annual scholarships are not permanent and will only last as long as donors are funding the scholarship. In contrast, she said an endowment is lasting and might take longer to build up and make an impact.
“Endowments are intended to last perpetually and are created through receiving gifts for said scholarship that equal $15,000,” Chambers said. “After that, the income from those endowments, from marketing and additional gifts is what is given as the scholarship.”
The value of endowment scholarships can vary from year to year, depending on how much income the fund made during that year, and many endowments take time to accrue, Chambers said.
For more information on specifics of the student scholarship continue reading on Issuu.