The Rice community, committed to the principles of access and affordability, has united behind The Rice Investment since its announcement in September 2018. To ensure this initiative in perpetuity, we must continue to work towards our goal of $150 million in new scholarship endowments by 2025.
To bolster this historic effort, an anonymous donor has offered a significant $10 million in matching funds to secure endowment-level gifts to The Rice Investment. As announced at the President’s Town Hall on Oct. 30, 2020, for every new dollar donated to need-based financial aid scholarships, Rice University will receive an additional fifty cents through Dec. 31, 2021. Donors will receive recognition for the total amount of their gift, as well as the matching dollars, in Rice’s upcoming comprehensive campaign.
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 email@example.com or 713-348-4383.
To see the impact of the Matching Gift Program in fiscal year 2020 visit our progress report page.
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 SHOULD 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% of the endowment’s market value annually.
- HOW DOES THE MATCH WORK? WILL THE MATCHED DOLLARS BE COMBINED WITH MY GIFT?
When you establish a new need-based scholarship endowment or contribute to an existing one, Rice will receive an additional fifty cents for every dollar of your gift. While the anonymous donor’s gift will not be added to your endowment, we will recognize you in Rice’s upcoming campaign 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 $500,000 toward need-based scholarships. You will be recognized for a campaign contribution of $1.5 million, but your personal endowment will reflect your $1 million gift.
- I PREVIOUSLY ESTABLISHED A NEED-BASED SCHOLARSHIP—WILL ADDITIONAL GIFTS TO THIS FUND 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 DOLLARS RUN OUT?
Qualifying gifts will be matched until the $10 million in matching gift funds have been used, or until The Rice Investment matching gift campaign ends on Dec. 31, 2021. 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.