With the approach of the University of Michigan's bicentennial, to be celebrated throughout the calendar year of 2017, two new Bicentennial Matching Programs for Student Support have been announced. The programs provide a pool of matching funds to encourage new endowed gifts starting at $50,000.
"This is a fantastic way for donors to increase the impact of their generous scholarship support," said Aaron Dworkin, dean of the School of Music, Theatre & Dance (SMTD). "With scholarships being the top priority of our SMTD Victors for Michigan campaign, we are so grateful to the University for providing this incentive. We hope it encourages alumni and friends to make a gift, which will help us to reach our goal of providing scholarship support to every student that needs financial assistance."
The first of the gift matching opportunities is the Third Century Matching Initiative providing a 1:2 (50 percent) match for donors making their first-ever U-M gift of $50,000 to $250,000 for student support. The gifts eligible for matching funds can support new or existing endowments for undergraduate, graduate, or professional students. Financial need is a preferred (but not required) criterion for all gifts matched through this program.
The second program is the Bicentennial Opportunity Matching Initiative, for gifts that provide need-based financial aid. This program provides a 1:2 match for scholarship and fellowship gifts that provide need-based financial aid and support new or existing endowments for undergraduate, graduate, or professional scholarships. Gifts ranging from $50,000 to $1 million that meet program eligibility requirements will be matched. Financial need is required as the primary criterion for all scholarships matched through this program.
In both programs, donors may define secondary selection criteria including academic merit, special talents and interests, study abroad, field study, internship, or geographic origin of the recipient. Additionally for both, groups consisting of up to four donors/households may pool their gifts for matching funds, and pledges are payable over a maximum of 5 years.
Matching funds will be applied as pledge payments are received, and are available on a first-come first-served basis. A fully signed gift agreement is required to reserve matching funds.
For more information on the Bicentennial Matching Programs for Student Support, contact Maureen Schafer at 734-764-4453 or email@example.com