You Hold the Key. . .
Help us build an unprecedented $36-million resource that will provide $1.5 million to help Ferris students each and every year. Participants in this challenge will see the impact of their giving doubled. For example, a $12,500 gift results in a $25,000 scholarship endowment.
Please join your fellow alumni and friends in creating the historic Ferris Futures Fund. Your generosity is key.
Frequently Asked Questions About the Ferris Futures Scholarship Challenge
The match begins July 1, 2016 and ends June 30, 2023. Endowments are to be fully funded (at least $25,000) by June 30, 2023. Gifts and pledge payments received after this date will not be eligible for matching funds. Pledges that remain unfulfilled for a year will trigger the release of any encumbered matched funds. Endowments not fully funded by June 30, 2025 will be re-directed into a general (not named) scholarship endowment.
The Challenge provides a dollar-for-dollar match on a first-gifted, first-served basis. Pledges will be matched as cash payments are received. Eligible gifts and pledges will commit match funding in the order received up to $3 million per year for six years.
In order to ensure that a wide audience of prospective donors has the opportunity to double the power of their contributions, we will encourage scholarship donors at the $500,000-level and over to consider matching challenges of their own to foster giving to particular programs. (Consider, for instance, the power of a two-to-one match).
The minimum gift to establish an endowment is $25,000. With the matching program, your contribution of $12,500 will be matched with a contribution of $12,500 from The Ferris Foundation to establish an endowment.
Eligible gifts begin accruing investment income immediately. The matched amounts will be deposited into the endowment on a monthly basis.
Donors will be recognized at a level that include both the gifted and matched funds.
The matched funds are available for endowed scholarships to all Ferris State University colleges and Kendall College of Art and Design that meet the following core criteria:
- Undergraduate students or students in the College of Pharmacy and Michigan College of Optometry
- Unmet Financial Need
- Minimum ACT 21/or SAT 960*/1040** and Minimum HS GPA 3.0 for incoming students; or
Ferris cum GPA 2.75 for continuing Ferris students
- *Critical Reading and Math total SAT score prior to March 1, 2016
- ** Evidenced-Based Reading and Writing Section and Math Section SAT score after March 1, 2016
- Full time enrollment required (minimum 12 credits per semester)
- Award Amount Varies: $500 - $5,000
Criteria for continuing Ferris students and conditions for renewing scholarships:
- Maximum of four years with at least a 2.75 Ferris cum GPA, given funding availability
- Unmet financial need
- Meeting Financial Aid satisfactory academic progress
Donors have the option to specify one additional criteria , selected from one of the following:
- Program (if no students from the program are eligible, the scholarship award will default to the college)
- First generation student
- Student Athlete (Administered/awarded by the Athletics Office)
I already have an established endowment at Ferris. Will gifts I make be matched from this fund to my endowment?
Gifts of at least $1,000 annually to established scholarship endowments will be matched.
Criteria from existing annual scholarships will be honored when establishing an endowed scholarship.
For more information and qualifying details, please contact:
Kim Erickson at (231) 591-2365 or by email at [email protected]