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Scholarship challenge

From M, summer 2004

Nick Richardson ('01 BSB) and Ryan Norine ('02 BSB) are not daunted by the challenge of asking classmates from 1999 through 2002, recent grads just beginning their careers, to donate enough money to build a $25,000 scholarship endowment. "We are so grateful for what our education has already made possible, and we want to give back," said Richardson, talking about what motivated the two friends to launch the fund-raising effort. "This is what we're saying to our classmates, and I'm hearing back from a lot of people who feel the same way, and are making gifts." He gave the example of one friend who graduated in 1999, has a job in financial services, and is entering an MBA program in the fall. "He made a substantial gift," said Richardson. "He said he would never have gotten his job or been admitted to the MBA program if it hadn't been for his Carlson School education." Besides, there's a great deal for endowed scholarship donors right now--a deal too good for a business major to pass up. To increase the amount of scholarship money available to students, the University has launched a matching program that doubles the impact of new endowed scholarship gifts. Donors may designate their gift for a specific college or campus, or for use University-wide. The U will match the annual endowment payout, essentially doubling the impact of gifts in perpetuity. In addition, matching gifts from employers count toward the $25,000 minimum needed to establish a scholarship endowment. So, for some donors, the impact of their gift could be doubled twice. "Some people may not be thinking of themselves as donors yet, but we want to encourage them to start thinking about philanthropy," said Richardson.

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