About Major Gifts Opportunities
Major gifts can come in many different forms, but the types that are most frequently seen are endowments and capital project gifts. An endowment is a fund in which the principle gift (e.g. $500,000) is placed into an investment account and only the earned interest is expended: for example, as a scholarship award or grant to a student or professor. Capital project gifts are applied to the construction of new buildings or other tangible properties that will benefit students, faculty, and the surrounding community.
Major Gifts for Endowment
A named gift may be used to create a named-endowed fund, which will, in perpetuity, honor and memorialize the name(s) placed on it. As mentioned previously, the basic plan underlying an endowed fund is simple: the principal of the fund is never spent. It is invested and the earnings are used to fulfill the purpose(s) for which the fund was created. Norfolk State University offers many gift options to those who wish to associate a family name or the name of a respected individual with a project or program of enduring value. Funds may be established for scholarships, fellowships, lectureships, research, professorships, library acquisitions, academic chairs, scientific and technical equipment, capital improvements or any other educational purpose at Norfolk State University.
Donors may use either outright or deferred gifts to establish named-endowed funds. The Development professional works with each donor, on an individual basis, in preparing guidelines for the administration of each named-endowed fund. Guideline length and degree of specificity depend upon the donor's wishes and particular circumstances. The minimum gift requirements vary depending on the scope and impact of the fund.
The mailing address for gifts is:
Norfolk State University Foundation, Inc.
700 Park Avenue, Suite 410
Norfolk, Virginia 23504-8003
If you have any questions and would like to speak with a Development department representative, please call 757-823-8323.