What is an endowed scholarship?
An endowed scholarship is a permanent fund in which the principal remains intact and invested at all times. Scholarships are awarded from the allocated income earned on the principal investment in accordance with the Trustees Endowment Spending Policy
How many funded endowments does GTBAO currently have?
GTBAO has a general funds and 12 endowments generating approximately $32,000/year in scholarship funds. Two additional endowments are in the process of receiving funds.
Are there restrictions on these endowments?
The general endowment does not have any restrictions. Several named endowments have criteria for award. A list of those endowments and the award criteria is shown below.
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GTBAO Scholarship
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Scholarship Description
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ENDOWED SCHOLARSHIPS
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GTBAO
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General Endowment
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Scholarships shall be awarded to undergraduate students with a preference given to black students. Scholarship Committee may choose to consider financial need in making its recommendation
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Alston
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Scholarships shall be awarded to undergraduate students with preference given to black students
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BP Corp
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Scholarships shall be awarded to undergraduate students with preference given to minority students, including, but not limited to students identified as under-represented minority students. Further preference shall be given to qualified students who are pursing degrees in the School of Chemical and Biomolecular Engineering, the School of Civil and Environmental Engineering, the School of Electrical and Computer Engineering, the H. Milton Stewart School of Industrial and Systems Engineering, and the George W. Woodruff School of Mechanical Engineering. The student shall have demonstrated leadership among their peers with the potential to make a broader future impact on society as evidenced by involvement in community, co-curricular or extra-curricular activities.
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BP May
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Scholarships shall be awarded to undergraduate students with preference given to minority students, including, but not limited to students identified as under-represented minority students. Further preference shall be given to qualified students who are pursing degrees in the School of Chemical and Biomolecular Engineering, the School of Civil and Environmental Engineering, the School of Electrical and Computer Engineering, the H. Milton Stewart School of Industrial and Systems Engineering, and the George W. Woodruff School of Mechanical Engineering. The student shall have demonstrated leadership among their peers with the potential to make a broader future impact on society as evidenced by involvement in community, co-curricular or extra-curricular activities.
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Gordon
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Recipients shall be selected by the Office of Scholarships and Financial Aid on the recommendation of the Scholarship Committee of the Georgia Tech Black Alumni Organization with a preference for black students.
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Hawkins
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A preference for black students with financial need. Further preference shall be given to students pursuing degrees in the School of Electrical and Computer Engineering in the College of Engineering. Additional further preference shall be given to students from Halifax County in North Carolina or from any county in North Carolina. If no student meets these preferences, the award may be made to any qualified student with demonstrated financial need selected by the Office of Scholarships and Financial Aid.
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Murray
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The Scholarship Committee of the Georgia Tech Black Alumni Organization may choose to consider financial need in making its recommendation, in which event finalists for the Scholarships will be ranked in order of demonstrated need by the Office of Scholarships and Financial Aid.
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Nu Beta
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Preference shall be given to black female undergraduate students who have completed their second year and who are not current members of the Nu Beta Chapter of Alpha Kappa Alpha Sorority. If a qualified student cannot be identified, preference shall be given to any qualified black female student pursuing a degree at the Georgia Institute of Technology.
Recipients shall be selected by the Office of Scholarships and Financial Aid on the recommendation of the Scholarship Committee of the Georgia Tech Black Alumni Organization. The Scholarship Committee of the Georgia Tech Black Alumni Organization may choose to consider financial need in making its recommendation, in which event finalists for the Scholarships will be ranked in order of demonstrated need by the Office of Scholarships and Financial Aid.
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Rush
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First preference for black students from the state of Louisiana. If no students meet this preference, the award may be made to qualified black students who are non-Georgia residents. If no students meet this preference, the award may be made to any qualified black students. The Scholarship Committee of the Georgia Tech Black Alumni Organization may choose to consider financial need in making its recommendation, in which event finalists for the Scholarships will be ranked in order of demonstrated need by the Office of Scholarships and Financial Aid.
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White
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A first preference for black students from the Greater Jacksonville, Florida, area who have demonstrated financial need. A second preference is for any black students from the Greater Jacksonville area. If no students qualify for either preference, the award may be made to any black students qualified for admission to Georgia Tech. Where financial need is a consideration, finalists for the Scholarships shall be ranked in order of demonstrated need by the Office of Scholarships and Financial Aid.
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Stargel
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The Scholarships shall be awarded with a preference for black students studying in the College of Engineering.
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Xi Alpha
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Annual scholarship with a preference for black students in their junior or senior year who are female. The Scholarship Committee of the Georgia Tech Black Alumni Organization may choose to consider financial need in making its recommendation, in which event finalists for the Scholarships will be ranked in order of demonstrated need by the Office of Scholarships and Financial Aid.
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Lambda Delta Chapter Endowed Scholarship
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A preference for black male incoming freshmen students, the scholarship may be renewed to full time student recipient for up to eight additional semesters for recipients who are making satisfactory academic progress towards their degree as determined by the Office of Scholarships and Financial Aid. Recipients shall be selected by the Office of Scholarships and Financial Aid with recommendations from the Scholarship Committee of the Georgia Tech Black Alumni Organization or its successor, working under the direction of the Georgia Tech Alumni Association.
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Henry Skrine - Delta Kappa Chapter Endowment
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A black male attending Georgia Tech preferably from the State of New York
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ENDOWMENTS PENDING COMPLETION
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Dual Degree
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This scholarship is established to assist dual degree students transferring to Georgia Tech.
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May Family
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The scholarship was established in honor of Gary and LeShelle May, and as part of the endowed scholarship fund initiative of the Georgia Tech Black Alumni Organization (GTBAO). For more than a decade, the organization has encouraged members to create scholarships in honor of the first generation of men and women to break down the racial barriers at Georgia Tech beginning in 1961.
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What is the minimum amount for an endowment?
An endowment can be started with a commitment $25,000 dollars.
If someone decides to start an endowment is all the money due immediately?
There is a 5 year period allowed to fully fund an endowment. A pledge made by an alumnus may be paid over a five year period.
Who manages or controls contributions to named endowments?
Every named endowment has a primary point of contact. If 2-3 years go by and collections are not proceeding at a pace to meet the basic requirements the point of contact is notified and given a time frame to address the situation.
What happens if
sufficient funds are not collected to fully fund the principal for a named
endowment? Who makes the decision on
what to do with the collected funds when they are planned for a GTBAO managed
endowment?
If sufficient funds are not collected to fully fund the
principal amount of a named endowment there are two options. The collected
funds may be disbursed during the next academic year or the funds may be rolled
into the general scholarship fund.
The GTBAO executive board decides what actions to take when
sufficient funds are not collected to fully fund an endowment. In the past the
board has chosen to move the funds into the general endowment fund.
Who determines which students receive scholarship money? How are the students selected?
GTBAO has a committee of people who evaluate scholarships. Volunteers are solicited via email, Facebook and social media. Students submit scholarship applications through the GTBAO alumni association website.
Does GTBAO receive many applications?
For the 2017 - 2018 academic year we received over 100 applications for freshmen scholarships and over 65 applications for upperclassmen scholarships.
I heard there is an endowment for Gary and Leshelle May. Is that a GTBAO managed endowment?
There is a new GTBAO endowment honoring the May’s. Anyone may contribute to this endowment. The information below is part of the press release regarding this gift:
There are many ways to leave one’s mark on a place, and the impact of Gary S. May, EE 1985, dean and Southern Company Chair in the College of Engineering, on Georgia Tech will be felt for years to come.
Since joining the faculty of his alma mater in 1991, he has mentored and inspired generations of Tech students, and been a passionate advocate for increasing the number of underrepresented minority students in engineering and science and as Ph.D. recipients.
To add to that legacy, on the eve of May’s departure from Georgia Tech, Michelle L. Adkins, IM 1983, and Rodney C. Adkins, EE 1981, MS EE 1983, HON Ph.D. 2013, have made a lead gift creating an endowed scholarship that will bear the names of Gary May and his wife, LeShelle R. May, MS OR 1989. They have been joined by colleagues and friends who have also made gifts and commitments to the endowment. The surprise announcement was made at the College of Engineering Awards ceremony in April.
The scholarship was established as part of the endowed scholarship fund initiative of the Georgia Tech Black Alumni Organization (GTBAO). For more than a decade, the organization has encouraged members to create scholarships in honor of the first generation of men and women to break down the racial barriers at Georgia Tech beginning in 1961.
Details on contributing to these endowments are available on our main Scholarship page.