Endowed Scholarships Program

Geographic Scope: Cypress-Fairbanks ISD (CFISD), Texas

Overview:
The CFEF Endowed Scholarships Program allows donors to create perpetual scholarships through endowment funding. Unlike traditional gifts that are spent immediately, endowed funds are invested with only the annual interest income distributed as scholarships while the principal continues to grow.

Award Amounts:
Endowments may be established in amounts of:

• $20,000
• $50,000
• $100,000 or more

How Endowed Scholarships Work:

• Principal Protection: The entire principal amount is invested and never spent
• Annual Distribution: Only a portion of the investment income earned each year is spent on scholarships
• Perpetual Growth: The remainder of annual income is added to the original principal
• Perpetual Nature: An endowment is a perpetual gift because only the interest is used to support the Foundation while the principal continuously grows

Naming Options:
Endowments will be named for:

• Private individuals
• Corporations and organizations
• In memory of individuals
• In honor of individuals

Scholarship Award Criteria:

• Scholarships will be awarded on an annual basis once the endowment is fully funded
• Endowments will be designed with the Foundation's minimum criteria
• Donors may also include special criteria beyond the Foundation's minimum requirements
• Selection criteria typically includes activities/leadership, academics, and financial need

Funding Timeline:

• All endowments have seven years to reach full funding
• If the endowment does not reach full funding in seven years, the total amount donated will be transferred to the Foundation's General Fund
• An endowed scholarship that is fully funded by December 31 of a calendar year will be awarded for the academic year beginning the following fall

Legal Requirements:

• The donor must execute an endowment agreement with the Foundation to create a legal agreement for the endowment

Contact Information:

• Executive Director: Marie Holmes
• Phone: 281-370-0144
• Email: info@thecfef.org
• Address: P.O. Box 1698, Cypress TX 77410-1698 or 11803 Grant Road, Suite 115, Cypress TX 77429
• Website: thecfef.org

Mission:
The Foundation's mission is to raise funds to increase college access for graduates of Cy-Fair ISD by awarding scholarships and to promote excellence in teaching by providing staff development grants.

How to Establish an Endowed Scholarship

1. Contact the Foundation
- Reach out to Executive Director Marie Holmes
- Phone: 281-370-0144
- Email: info@thecfef.org

2. Determine Endowment Amount
- Select funding level: $20,000, $50,000, $100,000, or more

3. Define Scholarship Criteria
- Work with the Foundation to incorporate minimum criteria
- Specify any special criteria for the scholarship
- Decide on naming convention (in honor of/in memory of, etc.)

4. Execute Endowment Agreement
- Complete a formal endowment agreement with the Foundation
- This creates the legal agreement for the endowment

5. Funding Timeline
- Plan to fully fund the endowment within seven years
- Fully funded endowments by December 31 will begin awarding for the following fall academic year

6. Ongoing Recognition
- Donors are recognized as Endowment Partners
- Annual scholarship awards made in donor's name