Restricted Scholarship Funds

New Restricted Development and Scholarship (R-funds) are created upon request through the EMU Foundation. Contact your department's Foundation Development Officer to start the process. For help identifying your Officer, call 734- 484-1322 or click here

Generally there are two types of restricted scholarship R-funds:

  1. Expendable scholarships funded by one-time gifts;
  2. Endowment scholarships funded by a donated perpetual pool of money managed by the EMU Foundation. The pool is invested in long-term devices to generate earnings awarded to scholarship recipients annually.

Sometimes an Endowment R-fund is accompanied by an Expendable R-fund for immediate spending in the Expendable R-fund.  Generally an Endowment must exist for a full fiscal year before earnings are awarded to scholarship recipients.

Once an Endowment has matured and annual allotments are available for scholarships, the associated Expendable balance can be remitted to the Foundation and combined with the Endowment.  In that case the Expendable R-fund would then be closed.  If this is something you would like to do:

  1. Inform your Foundation Development Officer;
  2. Complete a Direct Pay Form;
  3. Send the Direct Pay Form to Accounts Payable in 112 Hover.