How can I provide support for music at Washburn?
You can join the Friends of Washburn University Music. You can also make a current gift or provide an endowment fund to support the music department and music students at Washburn.
Why should I join Friends of Washburn University Music?
Your membership of $25 in the Friends of Washburn University Music demonstrates your support. Anything over the $25 membership is considered a charitable contribution.
What is the difference between an endowment and a current gift?
An endowment is a fund that is invested and only the earnings are used to fund general or specific needs. A current gift is sent directly to the University for needs or activities that are immediate. Endowed funds may be established over several years to provide for scholarships or for specific department, program or equipment funds, faculty enhancements such as professorships and chairs, program support, student or faculty travel funds, or other long-term University priorities.
How do I name an endowed fund to support the music department?
To establish a named endowed fund, a minimum of $25,000 must be given. This may occur with one gift or over a period of up to five years. A memorandum of understanding (MOU) is created between the donor and Washburn Endowment Association to guide the use of the endowment fund. You may establish the fund in your own name or in the name of a family member, friend, or faculty member. Once established, additional contributions may be made at any time - birthdays, anniversaries, retirements or other special events often prompt gifts toward an existing endowed fund.
What does it take to provide a full-ride scholarship?
Currently, an endowment of approximately $150,000 provides approximately one full-tuition undergraduate scholarship for a year at Washburn for a Kansas resident.
What happens if the fund does not reach the minimum?
If the $25,000 minimum is not raised within five years, the funds may be added to another existing endowment for similar use, or may be presented to the University for current use related to the interests of the donor or donors.
May I establish an endowment with an estate gift?
Yes, many of our music department scholarships and other endowed funds have come from estate gifts or from gifts made during lifetime with an estate gift flowing into the existing fund.