University of Detroit Jesuit High School & Academy is often approached by donors who wish to create a named scholarship fund that will provide scholarship funding to deserving U of D Jesuit students. It is anticipated that scholarship awards will be made by the school administration, based on the school's established criteria. A fully funded named scholarship has an invested total of $150,000. There are several ways to provide scholarship funding and to work toward the fully funded level, which are discussed below.

Annual Scholarship Funding
From time to time, donors provide funds for scholarships on an annual basis. Currently, a donation of $9,100 covers the costs on one student's tuition and fees for one year. These donations must be renewed yearly, and therefore can only be assigned to a student one year at a time.

Endowment Scholarship Funding
Once an endowment is established, a portion of the investment income is available for spending, while the remainder is added to principal to increase the fund over time and safeguard against inflation. Our current endowment spending policy allows for spending up to 5% of the average market value of the endowment as calculated for the three calendar years prior to the beginning of the fiscal year. If you can help us, we welcome your interest and offer the following guidelines.

Administration of named scholarship funds
U of D Jesuit will deposit gifts for a named scholarship fund into the school's investment account(s). The funds will be commingled with many other endowment gifts and are professionally managed. Depending on the size of the fund, there may be disbursements from the fund or earnings may be attributed to the fund.

Minimum to initiate a named scholarship fund
We will begin a named fund with an initial pledge of at least $50,000 and an initial gift of $10,000 toward that pledge.

Suspense Funds: scholarship funds with principal between $10,000 and $20,000
When a named fund is initiated, the school intends to keep administration as simple as possible. With this end in mind, there will be no disbursements charged against the fund and no earnings specifically attributed to it. This reflects a mutual recognition that the donors intend to add to the fund to reach a level where it generates enough earnings to begin disbursing scholarship awards. We refer to this protected, growing fund as a "suspense fund." This practice of neither charging expenses nor attributing earnings will be applied to a fund as long as there appears to be growth in the fund. If, over a number of years, it becomes clear that the fund is not growing, the school may ask the donor to merge the fund into the larger endowment. An annual report will indicate the status of the fund.

Named scholarship funds with principal between $20,000 and $150,000
When a named scholarship fund reaches the threshold level of $20,000, we will treat the funds in the following manner: a pro rata share of the endowment earnings will be attributed to the fund. Five percent of the principal will be disbursed as scholarships, and the disbursement will be charged against the principal of the fund. An annual report to the donor will indicate the status of the fund. Named funds between $20,000 and $150,000 pay at least one "partial" scholarship.

Full endowment: named scholarship funds at $150,000 or more
When a fund grows to $150,000, it would be considered fully endowed. It would pay at least one "full" scholarship award. (This may or may not be full tuition, depending on the school policy at the time, the prevailing tuition, and the financial need of the student and his family). An annual report will indicate the status of the fund. The fund would also be permanently listed in the annual President's Report and in other appropriate ways.

To date there are some forty named scholarships at U of D Jesuit. Support for most scholarships have come from generous individuals, families and foundations.

Partial Listing of Named Scholarships

For more information please contact
Thomas O'Keefe, '64,
Vice President of Institutional Advancement
at 313/927-2342 or Email Thomas O'Keefe