The interest accrued from funds in an endowment are designated for a specific activity, while the funds themselves are left untouched to serve as a permanent source of income to perpetuate that activity. A common type of endowment provides funding of student scholarships (e.g., an annual scholarship for an Atmospheric Science Department student concentrating in television broadcasting). Endowments must achieve a total principle of $10,000 to be activated.
In most years, Lyndon has “matching funds” available toward creating endowments. That is, a $5000 donation would be matched with $5000 from another source to create a $10,000 endowment.
Currently the Atmospheric Science Department has two endowments:
- The James Cantore Endowment to provide a scholarship for an Atmospheric Science Department freshman interested in television broadcasting
- The Norm Sebastian Endowment to provide a scholarship for a worthy Atmospheric Science Department freshman.
The Atmospheric Science Department is accruing funds toward a third endowment (the Col. Merle Woodall Endowment) to provide a scholarship for an Atmospheric Science Department major to present a paper at the Annual Meeting of the American Meteorological Society.
The funds in special accounts are available to the Atmospheric Science Department to use for a designated purpose. Currently the Atmospheric Science Department has an Equipment Special Account. These funds can be used by the department to purchase, accessorize, or repair equipment necessary to support teaching or research activities. Funds of all amounts are accepted at any time for the account.
Donors interested in creating (or contributing toward) an endowment or a special account may contact any Atmospheric Science Department faculty or the Lyndon Institutional Development Office at
(802) 626-6426 .