Frequently Asked Questions

A current-use gift meets immediate needs because it is available to be spent in its entirety at the time of the gift. An endowed gift amplifies the value of the gift over time because it is invested in the University’s endowment pool and the annual distribution will be used to provide support in perpetuity.

Both current-use and endowment gifts are extremely helpful. Current-use gifts can begin to have an immediate impact. Endowed gifts have a long-term, exponential impact, since the multiplying effect of investment means that gifts will continue to help meet needs far into the future. Endowment gifts also help schools develop and implement strategic approaches to growing gifts and financial stability over time. Ultimately, they are the best way to secure what the University can do for students.

Yes. Both current-use and endowed gifts can be fully dedicated to scholarships or fellowships. A current-use gift is immediately spent and paid out in full based on the terms set when established. An endowed gift, invested in the endowment, pays out forever and compounds the power of your gift as it grows and multiplies the number of students you are supporting over time.

Yes! This kind of blended gift will have both an immediate impact and long-term effect by providing funds for students today and for years to come.

There are two main reasons. Columbia is ethically and legally bound to spend funds generated by endowed funds according to the intent of the donors. While there are endowed funds that provide financial aid at every school, there are also many endowed gifts designated for other purposes.

The second reason goes to the very idea of an endowment. In stewarding endowed funds the University balances the goal of building this resource for future generations while ensuring today's students get the maximum benefit. Accordingly only a portion of the endowment is distributed to be spent each year, as determined by the University’s spending rule and approved by the Trustees. The current endowment spending rule applies a target spending rate of 4.5–5.0 percent, with some variations.

Yes, preferences for certain criteria, such as promoting diversity or area of study, may be set by the donor. At the same time, Columbia, like other universities, abides by legal requirements not to discriminate on the basis of race, religion, sex, citizenship, age, marital or partnership status, military status, or disability, and so criteria may not rely on these categories.

No.

When setting scholarship criteria, it is possible to specify a preference for students residing in a particular country or region.

Yes! Your gift can be applied to an existing program, initiative, or scholarship/fellowship at SPS. Our team can assist in ensuring your gift is directed as per your wishes.