Endowments, Restricted and Unrestricted Funds

You may choose to establish an endowment for your loved one, favorite relative, teacher, or leave your own legacy.

Endowments are permanent funds because only the interest earned on an annual basis is allocated for the purpose you specify.  An endowment can be funded with outright gifts over a number of years or though a planned gift or will commitment. The minimum level for an endowment is $25,000.

Restricted funds are those significant gifts that are only to be used for a specific purpose in the University.

If you choose to give unrestricted funds, this enables the University to have maximum flexibility to use the funds where they are needed most and to advance the academic needs of the institution.

William and Mary Kennedy (MS '84)

Inspired by a philosophy of gratitude and giving

Kennedy

William and Mary Kennedy have generously started to endow the Kennedy Scholarship for a William Paterson University student studying communication disorders. Mary earned her graduate degree in the same subject as a nontraditional student at William Paterson. The Kennedy’s know the importance of philanthropy and helping the next generation of deserving students.

Mary stated, “We were motivated to endow a scholarship at William Paterson University because my experience there nearly forty years ago as a graduate student was so positive.  I was reminded of that when called and asked to meet to discuss the possibility of an endowment. Upon reflection, I was reminded that many of the students at William Paterson are first generation college students and in need of financial support.  We were in a position to contribute and wanted to be a part of making a student's ability to complete their education a reality.  We remembered that struggle as young students ourselves.”

The Kennedy’s know how important higher education is and the role it can play in bettering the lives of America’s young people. Mary said, “To someone considering a gift to WPU, I would say, sometimes we just need a reminder. I would ask them to reflect on their own experiences as a student and remember those students who spent each semester hoping they would have enough money to return for the next one.  Remember that education is the way to a better life, and those of us who have been privileged to achieve that have a responsibility to help someone else have that opportunity. Imagine the feeling of knowing you have contributed to a young person's success!”

Alumni Jeffrey and Annie Millar

 Supporting the Cotsakos College of Business

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Long-time donors and alumni Jeffrey Millar '80 and his wife Annie Millar '15 created the Alumni Business Endowed Scholarship to support a full-time or part-time non-traditional undergraduate student majoring in business.

Jeffrey, who earned a degree in business administration, is the managing director of global subsidiary banking at Bank of Tokyo-Mitsubishi and Annie graduated with a bachelor's in liberal studies with a concentration in environmental science in 2015 after taking a hiatus from her studies for a number of years to raise their family.

“I was a first-generation college student, like many of the students today at William Paterson. I worked for a year between high school and college, which made me realize I needed that college education to better myself” says Jeffrey.

For both of the Millars, establishing the endowed scholarship provides an opportunity to give back to the institution that they say has given them so much. The endowment will provide an annual scholarship of $1,000 for a student who is non-traditional, whether in age, family status, or career path. “Both Annie and I were non-traditional students, and we want to provide an opportunity for a student with a similar experience. William Paterson had a profound effect on us, for which we are forever grateful. We are proud to help give a William Paterson student that same opportunity.”