Endowed Scholarships:
Many Motives, Many Methods
Paying it forward. Making society better. Keeping Willamette strong. Assuring we can enroll the best students. There are as many reasons for creating an endowed scholarship as there are devoted donors who create them.
And while the $50,000 needed to establish an endowed scholarship is a serious financial commitment, those interested in paving the way for future generations are finding a variety of ways to do so.
Remembering his “really wonderful days” on the Willamette campus, Ruben Menashe ’55 created an endowed scholarship through an outright gift. “When I was at Willamette, it was small enough to know everyone in one way or another,” says the former ASWU president and Bearcat football standout. The scholarship, which bears his name, will be awarded based on academic achievement and campus involvement. “Today the campus is so much more diversified and vibrant. That’s one reason I believe education is a key to making our society better. This contribution can add to that endeavor, and my heirs can continue it.”
When Julie Rieth ’88 learned Willamette music faculty were concerned about losing top students to area colleges with more competitive music scholarships, she knew it was time to act. She and husband John had supported University and music building projects in the past, but a scholarship was a natural fit with the interests of the Rieth Family Foundation. “Having been a music student myself and having positive memories of the excellent music faculty, I felt like that was a good cause in keeping with the charitable commitments that John’s parents had made,” Rieth says, noting that his mother “was a staunch supporter of college education and all types of arts. She would be happy to know the funds were supporting worthy music students at Willamette.”
Guy ’73 and Kathy Stephenson have long supported the University through the Willamette Fund along with matching funds from his employer, “but the Campaign for Willamette gave us an opportunity to fulfill a particular scholarship need.” Stephenson, a trustee and past president of the alumni association, created an endowed scholarship by agreeing to make an annual contribution over the next five years. As Willamette parents — son Garrett gradated in 2006, daughter Caitlin will graduate in ’08 — the couple ultimately settled on creating a scholarship that will be awarded to juniors and seniors who have proven their academic ability. “I received scholarships as a student, and I’ll never forget that,” Stephenson says. “Today Willamette is one of the finest institutions in the nation, and I want it to continue to do well.”
A matching gift was the impetus for John Morris ’74 to create an endowed scholarship as well, or as he says, “a great way to multiply the impact of my contribution and lock down those employer commitments before they change the rules!” But for Morris, the true motivation is summed up in one word: stewardship. “I was fortunate to receive various sources of financial aid. The people who provided those resources didn’t know me, yet I benefited greatly by their vision and generosity.” He designated the scholarship to be awarded to students with the greatest need. “I wanted to provide more unrestricted tools for the director of financial aid,” he says. “The current need is greater than ever, and scholarships are critical for creating a high caliber and diverse mix of students.”
Of the 469 members of the Class of 2007, 239 benefited from endowed or annually contributed scholarships. Throughout their four years at Willamette, those 239 students received a total of $4.3 million in donated scholarships, for an average of $18,067 each over four years. So as they marched across the platform to receive their diplomas, family and friends weren’t the only ones beaming with pride. So were the many donors, present in person or in spirit, who helped make the moment possible.