In 1967 the first endowed scholarship was contributed by the D.S. and R.H. Gottesman Foundation of which Ira D. Wallach was president. Five years later, the Syracuse Pulp and Paper Foundation Endowed Scholarship Program was formally established when Mr. Wallach offered to arrange for a $10,000 endowed scholarship in the name of the founder of his company if four other companies would contribute similar endowments to the Foundation. Seven founders scholarships were established that year.
Endowed scholarships are given to honor distinguished ESF alumni, corporate leaders, family members, and distinguished faculty members. In recent years, eight graduating classes have established class endowments.
The minimum donation required to establish a named endowed scholarship is $15,000. Most endowments are paid in the year they are initiated, but payment methods include pledges of up to five years. Like annual contributions, donations to endowed scholarships are eligible for matching gifts. The Foundation and the paper College publicly acknowledge endowed scholarships with a special presentation at the Foundation's Annual Meeting in October. Bronze plaques are permanently displayed in the lobby of Walters Hall.
The Alumni and Friends Endowment Fund was established in 1983 to provide a means for endowed donations under $15,000. The minimum donation to the Alumni and Friends Endowment Fund is $1,000. The names of donors are inscribed on brass plates affixed to an oak plaque, also on display in Walters Hall.
An endowment is forever because the principal is held in perpetuity and only the income is used to sponsor scholarships. Endowed scholarships are living memorials to those honored and serve as constant reminders of the generosity of the donors. They ensure the future of the pulp and paper industry by providing long-term scholarship support for students preparing for positions of leadership. They also provide alumni another opportunity, beyond their yearly giving to the Annual Fund, to give something back to the program that gave so generously to them.
Those interested in establishing a named endowment should contact the Foundation office at 315-470-6592, or by mail in care of SUNY-ESF, One Forestry Drive, Syracuse, New York 13210. You may also send e-mail to Deborah DeWitt.