Scholarship endowment fund paid in full
Published 5:00 am Saturday, July 27, 2019
In January 2017 the Southside VA Chapter of the Virginia State University Alumni Association (SVVSUAA) made the first payment of $3,500 to its $10,000 scholarship Endowment Fund. The SVVSUAA continued to make periodic payments toward the fund, during the last two years. A recent payment of $2,000 finalized the establishment of the Chapter’s endowment. The principle of the fund will not be allocated directly by VSU for scholarship, however, the principal is invested and the investment creates interest and dividends over time, which will be used to offer scholarships to students enrolled at VSU from the Southside VA VSUAA Chapter area well into the future. The principle of $10,000 should remain indefinitely.
A statement by chapter president Kylor B Reed reads, “We want to thank all of those in our local community who supported and helped us to be successful with this very proud accomplishment. They assisted us by participating in our annual fundraising activities and personally contributing directly to the fund. Most definitely I thank our chapter members who worked continuously on our annual fundraising activities and who made annual major contributions far and beyond our local and national dues. It is certainly a show of our love and devotion for VSU.”