The George and Frances Ball Foundation and Ball State are partnering to create an endowed scholarship initiative to increase financial assistance for the university’s undergraduate students from Indiana, according to a Ball State press release.
The George and Frances Ball Scholars Program provides incentive for new donors to support Ball State students by matching each dollar raised by Ball State up to $5 million, the press release states.
Announced by leaders from the foundation and Ball State Thursday at the Alumni Center, this initiative will be “the largest single investment in student scholarship funding” in Ball State’s history.
“The George and Frances Ball Scholars Program will double the impact of any gifts we make to new and existing scholarships on behalf of our undergraduate students from Indiana,” said Ball State President Geoffrey Mearns in the press release. “This extraordinary gift will have a pronounced impact on our University’s ability to recruit and retain the best and brightest students from Indiana.”
Thomas Kinghorn, CEO and president at the foundation, who served as Ball State’s vice president for business affairs and treasurer from 1980 to 2009, said in the press release, the initiative will build upon the the university’s trajectory — engaging students in educational, research, and creative endeavors.
The criteria for matching scholarship gifts or pledges are:
- One-for-one match for gifts or pledges of $25K-$250,000 to establish new, unrestricted Legacy Endowed Scholarships. The George and Frances Ball Foundation will also provide matching dollars for new money going to current endowments that fit the criteria.
- One-for-one match for new gifts of $1,000 or more not earmarked for a new or existing scholarship. These gifts and their matches will be placed in the George and Frances Ball Scholars Fund.
“All of us can be key players in providing an improved future for thousands of college-aged young people — and, at the same time, we are building the economy of the region and the state,” Kinghorn said.
The scholarship effort, he said, compliments the foundation’s “Cradle to Career Pathway to Success initiative,” which focuses on education attainment in Muncie and Delaware County.
“The University can’t do it without assistance, and that’s why the George and Frances Ball Foundation is pleased to provide this matching grant,” Kinghorn said. “Our thought is if we can all hop on this train, it will help secure the future for generations of Ball State students and graduates.”