Eta Phi Mu Endowed Fund, pending endowment
1. Minimum endowment level is $25,000
2. Lead donors to commit/pledge the first half, $12,500; usually four/five donors
3. Recommended time frame is three years, yet can be up to five
4. Possible to build endowment and begin a spending account to award right away
5. Once minimum of $25,00 is met, vests for 18 to 24 months
6. Lead donors are the contacts, annual financial report & info about recipients

Eta Phi Mu creates and chooses the process to set up the specific application and selection procedure. In the spring of each year, usually by May 1, the Chapter provides a list of its top three to five candidates to receive the scholarship. This is submitted to the Director in the Office of Financial Aid. The office allocates the scholarship to the candidate.
Initially the endowment will earn about 4% with a distribution of approximately $1,000. Over time, as long as markets grow, the distribution amount will increase.
Additional gifts can be added at any time in order to grow the endowment. The distribution percentage is calculated off of the market value of the fund not the contributed value. For example, if in year five the fund is valued at $28,000 the distribution will grow to $1,120. Annual financial reports are shared with the lead donors and the organization representative.

Checks may be made payable to Otterbein University.

Please reference the scholarship on the memo line and mail to:

Institutional Advancement - Development

1 S. Grove Street

Westerville, OH 43081

To learn more or to setup a mulit-year pledge, contact Kathleen Bonte, Executive Director of Development at (614)823-2707 or kbonte@otterbein.edu

General inquires to Alumni President, Bud, bud@creekstonebenefits.com

Contributions are Tax Deductible!! Tax ID 31-4379532