The Rice Investment Matching Gift Program is extended with a 1:1 match
Announced in Oct. 2020, The Rice Investment (TRI) Matching Gift Challenge has inspired tremendous support for need-based scholarship endowments, propelling Rice to more than 50% of its goal to raise $150 million by 2025. To continue this remarkable momentum in securing endowment-level gifts to The Rice Investment, a second anonymous donor has generously committed to increase the total matching gift funds to $15 million — and extend the initiative with a 1:1 match.
Beginning Jan. 1, 2022, for every new dollar donated to need-based financial aid scholarships through a qualifying gift, Rice University will receive an additional dollar through Dec. 31, 2025. Donors will receive recognition for the total amount of their gift, as well as the matching dollars, in Rice’s new comprehensive campaign, Be Bold.
The following gifts qualify for the matching gift program:
- Gifts to need-based financial aid endowment funds ranging from $100,000 to $1 million.
- Outright gifts or gifts pledged over a period of up to five years.
- Irrevocable planned gifts, including all life income vehicles such as charitable gift annuities and charitable remainder trusts, and irrevocable estate plan gifts.
If you are interested in learning more about The Rice Investment Matching Gift Program, contact Development and Alumni Relations at firstname.lastname@example.org or 713-348-4383.
Frequently Asked Questions
- How do I create a scholarship endowment that qualifies for this matching gift program?
To take advantage of The Rice Investment Matching Program, a need-based scholarship endowment may be created by making an outright gift of cash, marketable securities or other valuable assets; by making a deferred planned gift, including life income vehicles and irrevocable estate plan gifts; or by making a combination of outright and planned gifts, if desired. This can be a one-time gift or a multiyear pledge, payable over five years or less. A development professional can help you create the payment arrangement that best meets your needs.
- How much do I give to create an endowed scholarship?
The amount of your endowment depends on your philanthropic goals and the impact you wish to make. While endowments can be established with a gift of $100,000 or more, endowment gifts of $500,000 would provide the equivalent of a half-tuition scholarship for one student, and endowment gifts of $1 million will provide the equivalent of a full-tuition scholarship each year. When fully funded and activated, endowments generally distribute 4.5% in their first year and at an increased rate annually based on the university’s spending policy.
- How does the match work? Will the matched dollars be combined with my gift?
Beginning Jan. 1, 2022, when you establish a new need-based scholarship endowment or contribute to an existing one, Rice will receive an additional dollar for every dollar of your gift. While the anonymous donor’s gift will not be added to your endowment, we will recognize you in Be Bold: The Campaign for Rice for the total amount of your gift, as well as the matching gift dollars from the anonymous donor. For example, if you make a gift of $1 million to establish an endowment, Rice University will receive an additional $1 million toward need-based scholarships. You will be recognized for a campaign contribution of $2 million, but your personal endowment will reflect your $1 million gift.
- If I give additional funds to an existing scholarship endowment, will it count toward the match?
Yes! Gifts toward existing endowments are a great way to magnify your impact on students and qualify for recognition of the matching gift. Additionally, gifts received by Dec. 31 will increase the amount available for the scholarship beginning July 1 of the following year.
- When will the matching gift funds run out?
Qualifying gifts will be matched until the $15 million in matching gift funds have been used, or until the Be Bold campaign ends on Dec. 31, 2025. This is a great time to establish your own legacy at Rice while ensuring the future of affordability. Contact us today to discuss how your gift can have exponential impact.
- If I previously made a gift toward an endowed scholarship before Jan. 1, 2022, how much of the matching gift funds did it qualify for?
If you made a gift to endowed scholarships between Oct. 30, 2020, and Jan. 1, 2022, Rice received fifty cents for each new dollar you donated. While the anonymous donor’s gift was not added to your endowment, you received campaign recognition for the total amount of your gift, as well as the matching gift dollars from the anonymous donor. Only gifts made after Jan. 1, 2022, will qualify for the increased dollar-for-dollar (1:1) match.