Scholarship Endowment Fund
History of the Scholarship Endowment Fund
One of the very significant parts of the Naples Buckeyes Mission Statement is the awarding of scholarships to local area students who attend The Ohio State University. This key activity began with the founding of the Club in 1988. The early leaders identified scholarship activity as important work and began immediately to fund and raise funds for scholarships. Almost from the beginning, Club leaders identified the need to have a Scholarship Endowment Fund that would ensure that funds would be available for future students. The current Scholarship Endowment Fund was funded as an endowment fund recognized by OSU in February, 1991. The original $15,000 in the Scholarship Endowment Fund was raised faster than any other Scholarship Endowment Fund had prior to that time.
The Scholarship Endowment Fund continued to increase through the 1990's and in 1997 reached the $100,000 level. In 1998, the Club Board gave support to a Major Gift Committee, which was formed to specifically double the Fund to "$200,000 by 2000." This committee and the Club members achieved and surpassed all their goals. Fund raising activities continued through the 2000's and the fund increased to $355,000. In 2011, the Club began a new endowment campaign, Naples Dollars for Buckeye Scholars, and the current value of the Scholarship Endowment Fund is over $1,000,000, the largest fund of any Alumni Club in the country. For a detailed history of the Club's Scholarship Activities, click here.
Current Activity for the Scholarship Endowment Fund
Events of the Club normally include some type of fund-raising activity, whether it be raffles at game viewing sites, jewelry parties, silent and Chinese auctions, live auctions and other special activities. The Club holds an annual Buckeyes in Paradise Gala, which is our signature activity to raise monies for the Scholarship Endowment Fund. The 2015 Gala was held on March 21, 2015 with Honorary Chair, Chris Speilman. Over $85,000 was raised for the endowment fund. The 2016 Gala is scheduled in March, 2016 to be the capstone event for the current campaign with Honorary Chairs, OSU President and Mrs. Michael Drake.
One of the campaign goals is to be able to provide scholarship awards to as many as 4 students at a time to attend OSU. Normally, the Club attempts to give awards in an amount that is the difference between in-state and out-of-state tuition and in 2015-2016, that amount is approximately $16,000 per student. A Scholarship Endowment Fund of a minimum of $1,500,000 is necessary since proceeds normally average 4% a year. In order to increase the Scholarship Endowment Fund to meet this goal, the Naples Dollars for Buckeye Scholars campaign was initiated.
The Club Board approved a new standing committee of the board with a charge of setting a goal and planning and implementing a major campaign to raise the endowment fund to a minimum of $1.5 M by 2016. This committee, the Scholarship Development Committee, is leading this effort.
Various commitment levels from $500 for a 5-year commitment to levels that allow for named scholarships exist. The committee has designed a campaign that includes all levels of commitment. If you would like to help in this effort or find out more details on the campaign or commitment opportunities, please contact Charlie Kerwood, Scholarship Development Chair at 239-250-4222 or firstname.lastname@example.org.