Establishing An Endowed Scholarship Fund

The Hoban Trust Fund provides the opportunity for our supporters to create a named endowment fund. To establish a named endowment fund, there is a minimum outright commitment level of $10,000. This amount can be paid over a period of up to 5 years. If, after 5 years, the fund has not reached the minimum outright commitment level, any funds remaining will be folded into the Memorial Scholarship Fund.

The first step to starting an endowment is a signed endowment agreement. This agreement between the donor and Archbishop Hoban High School permanently defines the purpose of the fund. The agreement also outlines the Hoban Trust Fund’s standard procedures for managing endowment funds.

You can name an endowment for yourself, your family, your friend, your former teacher or coach, your company - the choice is yours. Your endowment will be recorded as "The [Name of Your Choice] Fund."

The Hoban Trust Fund uses standard language for endowment agreements to ensure consistency in management of the funds. As we work with you to establish the endowment, we will discuss your preferences and suggestions with you.

You can make a gift of any size to an existing endowment fund without signing an endowment agreement. There may be an existing endowment that reflects your interests and to which you can add your support. Also, donors who have established an endowment fund in the past, may continue to make gifts to them over time. The larger a fund is, the more impact it can have each year.

The spendable income from each endowment fund is used to provide scholarship money or support, as well as a portion of the indirect costs of fund management. 

Distributions from scholarship endowments, for instance, generally fund full or partial need - or merit - based scholarship grants and support indirect costs associated with those grants.

 The Hoban Advancement Office sends annual reports to the established fund contact(s) detailing the value and use of your endowment fund. The purpose of the endowment will dictate the news updates that will be included in the stewardship reporting document. Scholarships endowments will receive information on the student(s) recipient, whereas a capital endowment may receive an update on some of the recent maintenance updates from the prior year, etc.

In most cases, it is possible to meet the students who have been awarded scholarship funds. If you do not have an opportunity to meet your scholarship recipient at Hoban’s annual Scholarship Luncheon event, the Advancement Office can arrange a visit for you during some other time during the year.

A listing of all named endowed funds can be found on the school’s website. Additional donations can be made to your fund at any time.  Periodically, the Advancement Office publishes a listing of donors for recognition purposes in the Annual Report issue of The Hoban Magazine.

A donor may add to this endowment with gifts of cash, securities, or other assets, which will become subject to all the covenants, terms, and conditions of The Hoban Trust Fund. 

To express Hoban’s appreciation to donors to a new endowed scholarship, publicity in the form of news announcements, both internal and external, will be made to encourage additional donations to the fund. Hoban will periodically update members of Hoban family as to the status of the Hoban Trust Fund and the available balance of the endowment. 

We encourage the building of lasting relationships between you and scholarship recipients through thank you notes, scholarship luncheons and both formal and informal stewardship opportunities. 

If it becomes impossible or impractical to use the endowment for the purpose designated above, or if determined to conflict with any federal, state, or local law, regulation, or ordinance, the School, in consultation with the President and members of the Hoban Trust Fund Committee, will direct the use of this endowment in the best interest of the School and in a manner as close as possible to the original intent of the Donor(s). The identity of any named funds will be retained and will always bear the name indicated by the Donor.