Endowed Scholarships – Creating A Legacy
Out for Education recently created a program for donors wishing to create a lasting legacy for Houston LGBT students. We launched our Endowed Scholarship Program for those looking to invest in the future of our community, and ensure the continued support of LGBT students.
There are currently three endowments being funded:
- The Bob Briddick permanent endowment scholarship created in honor of one of our founding members who has donated hundreds of hours of his time to the Houston LGBT community.
- The Tom Fricke permanent endowment scholarship was created by the Associate Publisher of the award-winning Houston LGBT magazine OutSmart.
- The Bryan Cotton permanent endowment scholarship created in 2014 by former president and long-time board member, Bryan Cotton.
Out For Education – Endowed Scholarships
The Hollyfield Foundation
The Hollyfield Foundation is a local non-profit created in honor of Jay Hollyfield, a native Houstonian who, during his life, was a passionate and tireless advocate of gay and lesbian causes. The mission of the Hollyfield Foundation, as stated in their mission, is to “…foster[s] and protect[s] individual rights and freedoms by providing direct and indirect funding to qualifying 501©3 organizations that work to prevent discrimination, educate and secure equal rights for sexual minorities and assist in health care issues for the community, particularly in the areas of HIV/AIDS education, care and treatment.”. The Hollyfield Foundation has been a consistent and strong supporter of Out for Education and its students since the beginning; Their generous donations continue to impact LGBT students through their named scholarship and endowment.
John Danielson Memorial
The John Danielson Memorial endowed scholarship is in memory of community leader John Danielson, III. John generously supported many local non-profits by opening his beautiful home, hosting fundraisers, for any who needed a venue.
His widower, along with the various organizations that John supported, wanted to keep his legacy of selflessly giving to improve his adopted hometown continue—They decided to hold a fundraiser to create an endowed scholarship in his honor. The event was huge success, thanks to the generosity of John’s friends and the Houston LGBT community, John’s endowment was fully funded in one night. Since the creation of the endowment, John’s legacy of generous support lives on the lives of the students who are awarded scholarship money from his endowment.
Luigi Major Scholarship
Luigi Major, a Houston businessman, wanted to support the Houston LGBT community but was unsure how until he learned of Out for Education and was moved by the organization’s mission. Luigi started donating to the organization—eventually he decided that he wanted to make an even bigger impact for the scholars by increasing his donations and creating and endowed scholarship. The scholarship was completely funded within two years; Luigi’s generosity has, and will continue, to positively support and impact Out for Education scholarship recipients.
Kenner Harris – STEM Endowment
Kenner Harris is a Houston engineer who wished to support students who are majoring in the Science, Technology, Engineering, and Mathematical (STEM) fields. His endowed scholarship is awarded to students majoring in one of these areas; his endowment provides financial support to students who share Kenner’s passion for these subjects.
Bunnies on the Bayou
Bunnies on the Bayou is a local non-profit whose mission is “dedicated to the raising and distributing of funds for various charitable, educational and cultural programs that seek to improve the quality of life and promote education and awareness of human rights for individuals in the Houston LGBT community.” Bunnies has been a tireless supporter of Out for Education with their increasingly generous donations supporting our organization each year. Due to the incredible success of 2017’s Bunnies on the Bayou 38 fundraiser, Bunnies was able to make the generous decision to create a fully funded endowed scholarship.
Endowed Scholarships FAQs
Absolutely. A new endowment can be created, or additional funds can be provided to an endowment you previously established.
Donors can determine scholarship criteria (as long as it meets with board approval and Out for Education scholarship guidelines).
For example, the endowed scholarship could be for University of Houston students only, or only engineering majors. We suggest keeping any requested restrictions broad in nature in order to impact the greatest number of students.
The Endowed Scholarship can be funded over a period of 5 years. The year the endowment reaches $25,000, Out for Education will award a scholarship in honor of the donor from general funds.
The year after this threshold is met, the first ENDOWED scholarship will be awarded.
The minimum threshold for an endowed scholarship is $25,000. The goal is to give out 4% a year in scholarships (but could vary based on rate of return). For example, a $100,000 endowed scholarship will enable Out for Education to give out $4,000 in scholarships each year. The principal is kept in the endowment, allowing it to grow in the future.
An endowed scholarship is intended to last in perpetuity, providing a scholarship for every awards cycle.
Out For Education – Endowment’s Being Funded
The Bob Briddick Permanent Endowment Scholarship
Long time donors created the Bob Briddick permanent endowment scholarship to honor one our founding members who who has donated hundreds of hours of his time to the Houston LGBT community. OutReach United and Bob Briddick believe that investing in the LGBT community strengthens both individuals in the community and the community itself. The Bob Briddick permanent endowment scholarship upholds this mission by investing in the education of local LGBT students.
To add funds to this endowment contact us.
Tom Fricke Endowed Scholarship
The Tom Fricke permanent endowment scholarship was created by the associate publisher of the award-winning Houston LGBT publication, OutSmart Magazine. Tom Fricke has been a generous supporter of Out for Education and decided to create a lasting legacy with the organization in 2016 with a permanent endowment. His ongoing support, both through his work at OutSmart Magazine and this endowment, will continue to impact LGBT individuals and the Houston LGBT community itself.
To add funds to this endowment please use the donation form below.
Bryan Cotton Scholarship
Our former President and long-time board member Bryan Cotton, created the Bryan Cotton permanent endowment scholarship in 2014. Bryan has been a tireless supporter and advocate of Out for Education and it’s mission during his years of service on the board. This endowed scholarship continues his outreach efforts to impact the lives of Houston-area LGBT students.
To add funds to this endowment contact us.