ESTABLISHING THE MINIMUM ENDOWMENT LEVEL

WHEREAS, Lincoln University is a premier Historically Black University in the United States of America which provides a quality academic experience as determined by the success of our alumni body, which includes professionals and entrepreneurs, doctors, attorneys, and high level executives; and

WHEREAS, Lincoln University wishes to continue to produce students who are strongly prepared to embrace professional careers, pursue higher education or embark upon entrepreneurship efforts without regard to their financial status while students; and

WHEREAS, Current students demonstrate a strong need for financial support; and

WHEREAS, Lincoln University maintains endowed scholarship funds to support such needs and the minimum amount for such endowments has not been adjusted in more than 30 years; and

WHEREAS, The current economic conditions render it feasibly ineffective to administer and provide an adequate scholarship program at the current level; and

WHEREAS, Other Historically Black Colleges and Universities have set the minimum to endow a scholarship as follows:

Hampton University                                                                         $50,000
North Carolina Central University                                                    $50,000
Morehouse College                                                                         $25,000
Spelman University                                                                          $25,000
Tuskegee University                                                                         $25,000
Xavier (LA)                                                                                     $25,000; therefore be it

RESOLVED, That Lincoln University shall raise the minimum endowment level to $25,000 that can be paid in either a single contribution or in multiple installments; and further

RESOLVED, That all existing endowed scholarships which have reached the previously determined $5,000 minimum prior to this resolution shall be maintained.

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