Support Salem State

Fifty years ago, the Commonwealth of Massachusetts funded Salem State’s entire budget. Now, it receives only 36.6 percent of its budget from state support. The remainder is funding by tuition, fees, and generous support from local corporations, and from the generous gifts of alumni, parents and friends. Students still bear a huge financial burden, even at state universities. You can support a student directly through donations to scholarships.

To learn more about various scholarships to invest in, please contact Diane Shahin dshahin@salemstate.edu

Institutional Advancement
Salem State University
352 Lafayette Street
Salem, MA  01970
978.542.7591

If you are interested in scholarship support for yourself, please contact the financial aid office at 978.542.6112 or by email at finaid@salemstate.edu.

See our Scholarship dinner photos!

Establishing Scholarships with the Salem State University Foundation

Thank you for your interest in establishing a scholarship with the Salem State University Foundation. The Foundation welcomes two kinds of scholarships: Endowment Scholarships and Annual Scholarships. Scholarships may be set up for the benefit of all Salem State University students, or may be restricted to a particular school, department or program.

Endowment Scholarships
When an individual or organization establishes an endowed scholarship, the gift is set aside as principal to be invested in perpetuity. The expendable amount available for each fiscal year from an endowed fund shall be no greater than an amount equal to 4 percent of the average market value of the fund at the end of each of the three preceding calendar years. Notwithstanding, the expendable amount from any fund may not equal or exceed an amount, that, if expended, would reduce the market value of that fund below its historic book value (donated principal). In order to generate “spendable” income, endowment funds will be invested for a minimum of three years prior to the first scholarship award.

The investment committee will periodically review the spending policy and shall recommend any modifications it deems appropriate. Endowed scholarships are established with a minimum of $25,000, but emerging endowments may be established with a lesser amount*. 

*Emerging Endowment:

For those who wish to establish an Endowed scholarship with a minimum of $25,000, but choose to do it over a number of years, the Salem State University Foundation established an emerging endowment. The basic components are a minimum contribution of $1,000 and some financial contribution every two years. The $25,000 plateau must be reached within five years. To assist in the growth of the fund, 100 percent of the annual interest earned will be credited to the emerging endowment. When an individual or organization reaches the $25,000 plateau, the Foundation will work with the donor in accordance with the endowment’s restrictions and advertise the available funds to our students.

Annual Awards
Annual awards are established as a short-term, renewable gift. When a donor establishes an annual award, the entire gift is awarded to a student or students. The Foundation requests that annual awards be $1,000 or more per academic year in order to carry the name of the donor.

The Salem State University Foundation encourages donors who plan to make long-term scholarship donations to consider establishing an endowment. Often donors ask that part of their contribution be used for an annual scholarship and a portion be set aside to build an endowment for future scholarships.

Getting Started
If you are interested in establishing an endowed scholarship or would like to make an annual award, please contact the executive director of the Salem State University Foundation at 978.542.7591. Again, thank you for your interest in supporting the educational needs of our students.