The limited-time program was launched in April by the Missouri Southern Foundation in order to increase the value of new scholarships.
The Foundation set aside $200,000 for the program, which placed an additional $10,000 into each newly endowed scholarship created. The minimum principal amount under the initiative was $20,000 – with half coming from the donor and half from the Foundation. The donor’s name was placed on the entire $20,000 and the income distributed from the fund will be based on the same amount.
Southern Match was limited to 20 new scholarships, but the program yielded more inquiries about participating, said Dr. Delores Honey, the Foundation’s director of donor relations.
“The program generated so much interest that the Foundation’s board agreed to add another $50,000,” said Honey.
The board approved the additional funding earlier this month, resulting in five more scholarships being created. The 25 scholarships will provide assistance to students in a wide range of areas – from accounting and pre-dental to nursing and athletics.
“We’re excited that Southern Match exceeded our initial expectations,” said Honey. “Our students will be the beneficiaries of some very generous donors.”