Creating a Scholarship
Funding a scholarship for UMaine students through the University of Maine Foundation may be accomplished by making current gifts of cash, stock, land or personal property, or a deferred gift through a charitable trust, gift annuity, pooled life income fund or bequest.
Connect your legacy to UMaine’s future at three unique scholarship levels.
Today and Tomorrow Scholarship– An annual gift of $1000 provides for a Today and Tomorrow Scholarship. Half of your contribution is immediately awarded to a deserving student, with the remainder endowed for students of UMaine’s next generation.
Endowed Scholarship– A gift of $10,000 provides for an Endowed Scholarship. The entire portion of the gift is invested and only the earnings are paid out annually as scholarships.
Distinguished Endowed Scholarship– A gift of $25,000 provides for a Distinguished Endowed Scholarship and includes membership in the prestigious Stillwater Society.
Foundation staff can assist in drafting fund descriptions specifying how the fund will be administered. Endowed funds are prudently monitored to ensure any special conditions or provision relating to the gift and the original intent are carried out in perpetuity.
Most gifts are income tax deductible. The Foundation encourages donors to consult their personal tax and legal advisors regarding all charitable gifts.