Why consider establishing an endowed scholarship at Nazarene Theological Seminary? Establishing an endowed scholarship provides a personal and permanent way to assist God-called men and women to prepare for a life of ministry. It also provides a way to honor or memorialize someone who has made a difference in your life and in the Kingdom.
Providing scholarships to God-called men and women who come to Nazarene Theological Seminary for preparation is vital to the Seminary’s mission and operation. Those called to ministerial service need the quality of preparation which NTS provides—however, education is costly and could saddle ministers with a burden of debt. Thus, endowed scholarships can reap a rich harvest in the lives of well-prepared ministers and healthy mission-directed churches.
In addition, an endowed scholarship fund can result in the extension of a person’s vision or a Kingdom centered cause. The scholarship may be established by a person, a family, or a group of persons who seek to honor or memorialize someone—naming the fund in their honor/memory. In this way, starting an endowed scholarship is a way of passing on a mantle for Christian service.
Scholarship donors are invited to suggest criteria (such as ministry service area) to guide the conferring of their scholarships. However, in order to ensure that each year, all available scholarship funds are distributed to those students preparing for ministry, restrictive data should be offered only as a means of preference for scholarship recipients. The NTS Scholarship Committee establishes conferral procedures and will take scholarship criteria into account; however, the Scholarship Committee will make final award decisions.
Endowed funds, equated with excellence and long-term strength, differ from other gifts in that they are truly the gift that keeps on giving. Instead of the entire amount of the gift being awarded outright, the total amount of the gift is invested. Each year, only a portion of the earnings (currently 5%, as set by the NTS Board of Trustees) are awarded to students as scholarships, while the remainder are added to the original principal and re-invested.
To be considered a fully endowed scholarship, a fund must have a minimum $10,000 principal balance (which will be invested for one full year, after which 5% of the fund’s earnings will be awarded to students). A reasonable time frame for the building of the fund to the $10,000 minimum is 5 - 7 years. Donors are encouraged to seek participation from family, church, friends, matching company funds, and other sources. If the scholarship is not fully funded in 7 years, the fund could, with the donor’s approval and knowledge, go into a general scholarship pool and the individual scholarship fund would be closed. The NTS Scholarship Committee will consider all requests for exceptions to the time limit guidelines. NOTE: Although the NTS Journey of Faith Campaign has an official time period of 3 years, scholarships that are started during the Campaign will be counted toward our goal even if they are not fully endowed by 2011.
Most NTS students depend on some sort of financial aid to prepare for their calling to ministry. Please consider partnering with them by creating an endowed scholarship at Nazarene Theological Seminary. It is perhaps one of the best ways to link your legacy with the future of the Church—forever.
To learn more, feel free to contact our Development Office at 800.831.3011, ext. 5402 or at firstname.lastname@example.org.
Download a copy of the NTS Scholarship Worksheet.
View a list of Endowed Scholarships.