Funding for the future
Just select the endowment through the designation dropdown.
In 2021-22, the interest from WTSF endowments provided $125,000 in support.
Captain Carl Sputh and Captain Ryan Sputh Endowment Fund
College Credit Fund
Devyn Marie Williams Memorial Fund
Dr. White AVID Fund
Ginny Hacker and Terry Kahn Grants Fund
Joyce Click Vocal Instruction Endowment
Judy Albright Memorial Fund
Morrie and Jan Maurer Endowment to Further Promising Careers Fund
NCHS Choir Parents Organization Fund
North Central Cross Country 50th Anniversary Fund
North Central Men’s Soccer Fund
PTO of Allisonville Elementary School Endowment Fund
PTO of Clearwater Elementary School Endowment Fund
PTO of Crooked Creek Elementary School Endowment Fund
PTO of Eastwood Middle School Endowment Fund
PTO of Fox Hill Elementary School Endowment Fund
PTO of Greenbriar Elementary School Endowment Fund
PTO of Nora Elementary School Endowment Fund
PTO of North Central High School Endowment Fund
PTO of Northview Middle School Endowment Fund
PTO of Spring Mill Elementary School Endowment Fund
PTO of Westlane Middle School Endowment Fund
PTO of Willow Lake Elementary School Endowment Fund
Richard Dennis North Central High School Orchestra Endowment Fund
Sam Rhinesmith Band Endowment Fund
Washington Township Schools Foundation Endowment Fund
Adam Goodman Avid Scholarship Fund
Agness Award Fund
Barbara S. Shehorn Mental Attitude Scholarship Fund
Dr. Harry Feldman Scholarship Fund
H. Dean Evans Scholarship Fund
Health Care Heroes Scholarship Fund
Joe and Will Lawrance Legacy Art Fund
Julia Roberts Summer Opportunity Endowment Fund
Karen Sue Potter Memorial Fund
Leatherman Family Scholarship Fund
The Merit Scholarship Fund
Nicholas M. Borschel Scholarship Fund
Stephen Drybread Scholarship Fund
Students of Color Activity Endowment Fund
Theresa Veccia Young Memorial Scholarship Fund
Scroll down to view Frequently Asked Questions or click below to contact us for more information.
A scholarship endowment is an established investment with the purpose of issuing an annual scholarship award in perpetuity. This fund is meant to be permanent, so the money you donate is never actually spent. Instead, it is invested and investment income earned from your endowment fund is used to fund your scholarship for years to come.
Endowed scholarship funds are set up under the Washington Township Schools Foundation (WTSF) as part of the Indianapolis Fund in the Central Indiana Community Foundation which is essentially a giant pool of endowments held by organizations all over central Indiana allowing everyone’s investing power to be maximized. All decisions are made by the investment managers of the entire fund. To learn more, you can check out CICF.org.
Yes. When you make the donation you will be asked to clarify specifics on how you would like your endowment to be used. When the fund is established with CICF the intention of the scholarship will be outlined in the agreement. WTSF will work with you to choose the name for the scholarship and set the criteria for eligibility. For instance, you can decide whether the scholarship is need-based or merit-based and if it is limited to students in a particular area of study. We will work with you to make sure the scholarship criteria, eligibility, and selection process are in accordance with keeping the donation a tax deductable gift.
The maximum spendable amount in any year is 5% of the fund balance on December 31st of the previous year. The initial investment will determine the amount of the scholarship and that amount along with the annual administration fee will be requested from CICF by WTSF annually to award the scholarship. Any portion of the spendable amount not taken is reinvested to increase the fund balance – which could make it possible in future years to increase either the amount of the award or the number of awards. For reference, a $25,000 initial investment would yield a single $1000 scholarship annually.
Legally, only 5% of the balance may be withdrawn in any one year. The way an endowment works is a large amount of money is set aside in an investment account and then only the interest is used by the organization each year. In an ideal world where investments generate at least 5% income per year, the fund slowly grows, continuing to generate a 5% withdrawal opportunity forever. (Conversely, if organizations would be allowed to take out more than what the fund can generate in investment income each year, the fund could shrink, unfortunately not slowly, and eventually disappear). The endowments are set up with legal agreements that only allow 5% to be withdrawn each year. The agreements were written this way to give the funds the best possible chance to grow and provide income for as long as possible.
As is common practice in non-profits, WTSF assesses fees for scholarship administration. The fees are assessed for the purpose of strengthening the developmental capabilities of the organization and defraying the costs to administer the scholarships. Costs include, but are not limited to, overseeing the scholarship process and management of technology associated with scholarship applications, managing the scholarship fund, and efficiently disbursing funds in accordance with donor intent and varied bursar office requirements. The WTSF administration fee associated with endowed scholarships is $300 for the initial set up of the fund, and then $100 each time the scholarship is distributed. When funds are requested from CICF annually, $100 will be included in that requested distribution to cover the fee. There are no fees associated with gifts made to the fund once the fund is established.
The minimum investment required is $25,000.
No. For the long-term integrity of the scholarship, we require this minimum threshold. We do have other options we would be happy to discuss such as investing in an established scholarship endowment or doing a one-time direct donation scholarship.