Gifts to the SIOP Foundation fall into the following categories: The Advancement Fund, The Scholarship Fund, Incubator Fund, Incubator/Emerging Issues Fund, and Term and Endowed Named Gifts.
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The Advancement Fund
The Advancement Fund welcomes gifts of any amount. Some donations associated with this program recognize member achievements such as receiving honorary awards, promotions, and other accomplishments. Gifts can also be made to honor the memory of individuals and their achievements. The gifts deposited become part of the endowment for the Advancement Fund. The interest from this Fund is used to support activities that further the advancement of the field consistent with SIOP's purpose as stated in the Bylaws.
Specific programs that the Fund supports include Graduate Student Support, Member Development Grants, Program Development Initiatives, Pro Bono Work, and Educating the Public and the World of Work Concerning the Purposes and Objectives of SIOP. Distributions of interest earned from the Advancement Fund are based upon the recommendations of the Foundation Trustees and are reported to the SIOP membership annually.
Special Funding Opportunities. As a special part of the SIOP Foundation Advancement Fund, the Foundation Charter Group recognizes contributors who provide a minimum level of $1,000 to the SIOP Foundation during its charter year. Also, the SIOP Foundation recognizes contributors who pledge or donate a minimum level of $2,500 in the Annual Report under lifetime gifts.
The Scholarship Fund
The Scholarship Fund seeks specifically to further I-O psychology by providing financial support to students and young scholars. Gifts designated for this special Fund are used exclusively for scholarships.
Incubator or Emerging Issues Fund
A member or group of members can establish an endowed gift under the auspices of the Incubator or Emerging Issues Fund. Those interested in a given issue may initiate an agreement to raise $50,000 or more over a 5-year period to provide an award or grant for work in a specific area. The fund must contain a minimum of $5,000 within the first 12 months. The area would have to be consistent with the objectives of the Society and approved by the Executive Board of SIOP and the Board of Trustees of the Foundation. You may designate the use, purpose, and name of the award to be given. The only requirement is that an award cannot be given until the cumulative gift reaches $50,000. This is because these funds are only able to give awards when they have generated earnings sufficient to cover the award amount. (If endowment does not reach $50,000 in 5 years, funds will be transferred to the Advancement Fund.)
Term and Endowed Named Gifts
Named Gifts are donations of a specific amount for a particular award, project, or program that is named in honor of a person or institution. Only gifts consistent with the purposes of SIOP will be accepted.
Two types of Named Gifts exist–a Named Term Gift and an Named Endowed Gift. A Term Gift refers to financial support for a specific activity, award, or project that expends all of the donated funds for that purpose. Ordinarily, the project would be completed and the funds would be exhausted within a specified period of time. Activities governing the project are specified in a memorandum of understanding.
An Endowed Gift is a permanent gift, the interest from which supports a particular activity, award, or project as specified in a memorandum of understanding. The principal remains in the SIOP Foundation so that grants funded by the interest can be awarded in perpetuity. Arrangements can be made for funding an Endowed Gift over several years.
The minimum donation required for a named gift is $75,000 for a named award and $50,000 for a named scholarship. These amounts may be given in a lump sum or donated over a 5-year period. In addition to the right to specify the name of the gift, the donor works with the Foundation trustees to define the nature of the award or grant and the criteria to be used in making it.
Categories of Named Gifts
Gifts for Graduate Student Support. Gifts are used to endow support for graduate students studying in fields relevant to SIOP's purpose. Types of activities that could be supported include: student fellowships, research awards, dissertation support awards, travel awards, and so forth. For named opportunities to permanently endow such a fund, gifts beginning at $50,000 are accepted.
Gifts for Member Development Grants. Gifts are used to endow support for grants that enhance the development of members. Types of activities that could be supported include: early career awards, continuing education grants, summer research grants, and grants for research and practicing members to exchange opportunities and information, and so forth. For named opportunities to permanently endow such a fund, gifts beginning at $75,000 are accepted. Also, Term Gifts are accepted to accomplish specific projects designated by the donor.
Gifts for Program Development Initiatives. Donations may be made to endow support for grants that aid program development consistent with SIOP's purpose. Types of activities that could be supported include grants to assist emerging academic programs, grants to develop work that enhances international opportunities, grants to programs that permit enhancement of innovative research and practice, and so forth. For named opportunities to permanently endow such a fund, gifts beginning at $100,000 are accepted. Term Gifts will also be accepted to accomplish specific projects.
Gifts for Educating the Public and the World of Work Concerning the Purposes and Objectives of SIOP. Gifts are used to support grants providing funding for SIOP projects to educate the public and work community concerning the goals, principles, and methods of SIOP. Types of activities that could be supported include grants to further best practices consistent with the goals and purposes of SIOP, or information concerning relevant policy topics such as the state of knowledge about affirmative action. For named opportunities to permanently endow such a fund, gifts beginning at $100,000 are accepted. In addition, Term Gifts are accepted to accomplish other specific projects.
For more information about how to establish a Term or Endowed Named Gift, please contact Linda Lentz at the SIOP Administrative Office: (419) 353-0032 or email@example.com.
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