Young Alumni Scholarship Criteria and Terms

Young Alumni Scholarship Criteria

The YAB scholarship shall pay for tuition and fees. USU will select scholarship recipients according to the following criteria:

  1. Applicants shall be undergraduate students.;
  2. Applicants shall be enrolled full-time and majoring in business.
  3. Applicants shall have a minimum 3.7 GPA.
  4. Applicants shall demonstrate a history of service to Huntsman School clubs and organizations, as confirmed through a faculty advisor recommendation.
  5. Preference will be given to prior recipients of this scholarship. Among new applicants, preference will be given to freshmen and sophomores.
  6. Priority will be given to student leaders not already receiving substantial scholarships or compensation support.
  7. Award amounts will be defined on a year-to-year basis by the selection committee.

Any unspent scholarship funds in the Expendable Fund at the end of each academic year will be rolled into the endowment to support long-term growth.

Young Alumni Scholarship Terms

Your gift will be used only for the above-stated purpose if the required minimum endowment level of $25,000 is met by May 30, 2030. If not met, the gift will be considered expendable towards the stated purpose.

The Endowment will exist in perpetuity. If circumstances arise that render the stated purpose of the Endowment (as set forth herein) illegal, impractical, impossible, or wasteful (e.g., a change in law, the elimination of a USU program, position, or course of study, the persistent unavailability of scholarship recipients that meet the criteria, etc.); then, as set forth in this Solicitation, under such circumstances and in keeping with Utah Code 51-8-501(1), USU may designate a new purpose and/or scholarship selection criteria] for the Endowment. Any such new purpose shall be defined by USU’s President and Dean of the Jon M. Huntsman College of Business.

The Endowment will be invested under the direction of the University Public Treasurer. Oversight and advisement of investments will be provided by the USU Investment Advisory Committee in accordance with USU’s investment policy. The USU Foundation is the legal entity designated by USU to receive charitable gifts in support of its academic mission.

Distributions from the Endowment shall be governed by USU’s Endowment Spending Policy. The spending policy calls for an annual distribution up to 5% (currently set at 4%) of the value of the endowment account to be expended per the gift agreement. An additional 1.5% of the endowment value shall be used to fund the administration of the endowment and USU advancement efforts. All additional gains shall be retained as appreciation and invested along with the corpus to grow the value of the Endowment over time.

By letter dated May 21, 2008, the Internal Revenue Service has declared the USU Foundation (federal tax identification number 87-0627128), to be a duly qualified charitable organization under section 501(c)(3) and also an organization described in sections 509(a)(1) and 170(b)(1)(A)(iv) of the Internal Revenue Code. The Foundation is a duly chartered active Utah nonprofit corporation, under the provision of Utah Code, Title 16, Chapter 6a.

Effective July 1, 2021, a 5% university gift investment fee, governed by USU’s applicable policies, will be applied to all new, non-endowed gifts to improve University Advancement’s capacity to increase and manage philanthropic giving to USU.