There are about 165 funds established by individuals or groups, including 30 local alumnae chapter funds, in the international Foundation for Ewha W. University. Amongst these funds, there are funds set specifically to support certain colleges within the university: Medical School Research Fund, College of Pharmacy Fund, Nursing Science Scholarship Fund, and Engineering Scholarship Fund.
이화 국제재단에는 165개의 개인 혹은 그룹이 세운 각종 기금과 30 여개의 동창지회가 설립한 기금이 있습니다. 이 중에는 전공별 기금도 많이 있습니다. 그중에서 전공대학을 틀별히 지원하기 위해 세워진 기금들이 있습니다. 의과대학기금, 약학대학기금, 간호과학대학기금, 공과대학기금이 그것입니다. 이 기금들을 소개합니다.
Medical School Research Fund
The Medical School Research Fund commemorates the 50th anniversary of the establishment of the College of Medicine. It was started by Yong Ock Cho (Medical School ’59) in December 1995, when she collected five $500 checks totaling $2,500. Then, retired professor Dr. Byong Cho Kim and alumnae including Hyang Won Lee (’51), Joo-Yeon Lee (’59), You Sim Oh Kim (’78), Ku-mie Oh Kim(’78) responded to the campaign. About $40,000 was raised in one year. Alumnae Soon Ja Choi Kim (’66), Myung Hee Hong Kim(’69) and Okhee Won(’70) continued to devote themselves to the fundraising campaign of Yong Ock Cho. In 2003, Moon Ja Chung Park (’66) reignited the fundraising campaign with the theme of the “Power of One.” With her dedication and the active support and leadership of Hak He Rhee Pyun (’60) the campaign reached over $200,000 in 2010. From the $200K in the permanently restricted fund, an annual support became available in 2011. The total amount of investment income earned from this principal as a research fund sent to Ewha University Medical School from 2011 to 2020 is $162,500.
College of Pharmacy Fund
College of Pharmacy Fund started in 1988 with the initial gift of $3,500 for research from the College of Pharmacy alumnae. It is the one of the first funds, established by a group of same major graduates to support their department’s studies. At the time, Hai Won Chang (’50), Young-Hee Lowe (’56), Hyo Bok Chung Lee (’57) donated gift to send laboratory equipment to the College of Pharmacy at Ewha University, and some funds were left after shipping the equipment to Korea. In the early 1990s, Chung Wan Lee Min (’65) and alumnae raised funds for new College of Pharmacy building. After the new building project, there are some gifts for the College and were added to the existing fund. In 2012, Meesang Ahn Chang (’66) and Young Za Kim (’57) started a fundraiser in order to strengthen the existing fund for the perpetual purpose. As of 09/30/2019, there is a balance of about $83,000 in the College of Pharmacy Fund.
Nursing Science Scholarship Fund
Chong Soon Hong (’59), one of the first graduates from the College of Nursing, wished to establish a scholarship fund for Nursing college students. Her children, knowing that their mother always wanted to start a scholarship for her alma mater, sent the initial gift to establish the fund in 2016. At the news of the establishment, some alumnae of the College of Nursing from Alaska to New York contributed to the fund. Sung Hak Lee(’59), one of Chong Soon Hong’s graduating classmates, from Canada, had already started a scholarship fund in her name (Sung Hak Lee Choi Scholarship Fund). However, after hearing of the Nursing Science Scholarship Fund, she requested to the Foundation that her scholarship fund be merged in order to move up the date of fund’s availability to disburse. Even though the scholarship in Sung Hak Lee’s name has disappeared, we hope that Sung Hak Lee and Chong Soon Hong’s wish will be reached through the active participation from alumnae of the College of Nursing. As of 09/30/19, about $50,000 of funds has been accumulated.
Engineering School Scholarship Fund
In 1996, Ewha Womans University founded the College of Engineering. The board members of International Foundation for Ewha W. U., including Carol Murdoch and Gwen White, welcomed the news of starting the first woman’s engineering school in the world and started a scholarship fund to support it in 1994, even before the University set up the college. This fund is not a permanently restricted fund that supports scholarships through the proceeds from the principal, but a temporarily restricted fund that is disbursed whenever a certain amount of money is available for the scholarship. The College of Engineering had four departments when it is founded – Computer Engineering, Electronics Engineering, Architecture, and Environmental Engineering. As of 2020, it has four divisions covering 12 different majors.
Why we fund scholarships to Ewha
To change lives for the better, to strengthen the Univeristy, and to set an example for others. What better investments can any of us make other than to support the hopes and dreams of young women in Ewha? There are many needy girls and promising women from different socioeconomic backgrounds in Ewha. You can make a life-changing difference for them. As a women’s university, Ewha lacks of support from the general public, in comparison to other co-ed universities in Korea. Also as many supporters of International Foundation for Ewha were once recipients yesterday, students who receive scholarship today become the donors of tomorrow. Your scholarship can establish a chain of giving spirit.
Two types of Scholarship Fund
The first thing you will need to consider is how you would like to use your contribution. Simply, you can give a one-time scholarship. To go beyond, you can establish a scholarship fund. To establish a scholarship fund, there are two types of funds: an endowed (permanently restricted) or a temporarily restricted fund.
일회적인 장학금으로 학생들을 후원할 수 있다. 이보다 더 지속적인 후원을 하고 싶다면, 장학기금을 설립하는 것이 좋다. 기금에는 영구적인 기금과 한시적인 기금이 있다.
A Permanently Restricted Fund
The beauty of scholarship endowment (permanently restricted fund) is that the principal may not be exhausted and becomes a permanent asset for the school. The principal is invested, and the interest and gains earned from the principal are given to the scholarship recipients once its conditions are fulfilled. The principal remains intact, ensuring that the fund continues in perpetuity. The permanently endowed fund requires a certain level of contribution in order to establish, usually at least $10,000 within three years. The most preeminent benefit of an endowed scholarship is that it lasts forever, honoring the donor and benefiting many students perpetually.
영구적인 기금은 원금은 쓰지 않고 그 원금으로부터 얻어지는 수익금만 장학금으로 지급하는 기금이다. 일정한 목표액을 정하고 그 목표액에 이를 때까지 원금과 누적 수익금을 계속 쌓다가, 목표액에 이르면 그 때부터 이자로만 장학금을 지급하는 방법이 일반적이다. 이렇게 해서 그 기금을 영구적으로 운영할 수 있다. 3년 내에 1만불을 적립하기로 약정을 하면 국제재단에 영구적인 장학금을 설립할 수 있다.
A Temporarily Restricted Fund
In a temporarily restricted fund, the principal may be used after the conditions of the restriction, like a time period or specific purpose has been fulfilled. The allowance use of the income of a temporarily restricted asset may also be restricted by the terms of the donation. Depending on the terms of the scholarship, it may last for one year or several. A temporary scholarship is often created by a donation of an amount not sufficient for an endowment. It is also possible to create a temporary fund instantly, with the intention of making annual contributions to award scholarship for a time being.
한시적 기금은 원금과 투자 수익 모두를 쓰는 기금이다. 혹은 일정한 기간이나 일정한 목적을 정하고 그 조건이 다할 때까지 운영하는 기금이다. 영구적인 기금을 설립하기에 충분한 액수가 아닐 때, 한시적 기금을 설립하기도 한다. 일정 금액을 기탁한 후 그 기금이 다 소진될 때까지 원금과 수익금을 장학금으로 쓰이도록 하기도 한다.