Did you know that members of the Northeast Ohio Michigan State University Alumni Club started an endowed scholarship a few years ago? So far, the club has raised $80,629!
But, there’s even better news. If we can raise $10,000 in new contributions before July 1, 2009, a local Spartan graduate has offered to match with an additional $10,000 to push us past our goal of a $100,000.00 scholarship endowment.
If we are able to meet the challenge – and raise a total of $20,000 in new donations in the next few months – we will be able to pay for an additional scholarship for a student from Northeast Ohio. For each $20,000 we generate, we can use interest earnings to pay for a $1,000 annual renewable scholarship to MSU for a student from our area.
In 2000, the Northeast Ohio launched this project. We hoped to raise $20,000 before 2005 to create an endowment where interest earnings would finance an annual scholarship for one student. So far, the generosity of alumni and friends has made it possible to pay for four scholarships.
Our newest student scholarship winner, Lisa Marie Leppla, of Mayfield, sent the following email:
“I just wanted to send you an e-mail letting you and everyone else in the Alumni Association know that things are going extremely well for me at MSU. I am truly enjoying every day here and I can't imagine myself any other place… The football games have been a blast and I just recently joined an intramural football team. My classes are starting to get a little tough, but they are interesting at the same time. Once again I want to stress how thankful I am to have received the scholarship. Go Green!
Founders Club pledges - $500 yearly for five years - are being paid by 14 families or members in the Cleveland area. They are Lynn Cram of Kirtland; Tony & Barb Dulio of Rochester Hills, Michigan; Bill & Sally Ebersole of Strongsville; Michael and Diana Finn of Moreland Hills; John Gruner of North Olsmted; Komal and Henry Gulich of Euclid; Stephen W. Hoedt of Cleveland; Frederick & Susan Leitert of Ashtabula; Mr. and Mrs Albert B. Ratner of Lyndhurst; Richard Rennell of Bay Village; Dave & Ann Sartin of Bay Village; Earl & Nancy Sherwood of Mentor; Howard & Virginia Stiver of Lebanon and Paul & Kate Williams of Beachwood.
And, donations have been received from more than 100 other persons. Seven donors have arranged employer matches. At the end of this message, you'll find our eighth annual report to donors and friends. The scholarship fund is administered by investment professionals at MSU. Contributions to existing donor societies at MSU – such as President’s Club – can be earmarked for the Northeast Ohio Michigan State University Alumni Endowed Scholarship Fund.
Alumni, friends and businesses interested in starting a new Founders Club membership should contact Dave Sartin at the davesartin@aol.com or call (440) 892-0483. What do you get in return? Just a “thank you” from a bright, young student and your name our endowment stationery! And, it’s tax-deductible.
Individual donations can be sent to University Development, Michigan State University, 300 Spartan Way, East Lansing, Michigan, 48824. Make checks payable to Michigan State University. Be sure to write NE Ohio Endowment in the memo section of the check. ____________________________________________________________________
Northeast Ohio Michigan State University Alumni Endowed Scholarship
Nov. 10, 2008 Eighth Annual Report to members and friends
Revenues: Beginning balance: Dec. 1, 2007 $ 74,433 Donations and interest earnings $ 8,169 Total $ 82,629
Expenses - two annual scholarships $ 2,000 Endowment Fund balance at MSU - market value $ 80,629
With thanks, the endowment acknowledges postage and printing fees paid by anonymous donors.
