UI Athletic Scholarship Contributors Honored
Prior to Iowa's homecoming football game against Indiana on Saturday, October 11, the University of Iowa Foundation and the Athletic Department honored several contributors who have given generously to the athletic scholarship endowment.
The total athletic scholarship endowment is over $47.1 million - ranking in the top half of the Big Ten. Earnings from the endowment offset the over $10 million the athletic department pays to the University each year in tuition, room and board, books and fees for its 650 student-athletes.
Contributors have three levels of giving to consider when establishing an athletics endowed scholarship. Gifts of $50,000 establish an athletic scholarship. A contribution of $200,000 endows a sport specific scholarship, and a gift of $400,000 or more allows a contributor to endow a scholarship for a specific position. Now through December, 2016, the University will match the earnings on any scholarship established with at least $100,000.
Bob and Jan Fitzgerald
The Fitzgerald’s were able to make a very significant impact on the women’s basketball program this summer in two ways – they established an endowed scholarship, and they made a generous gift to the women’s basketball development fund. The Fitzgerald’s endowed scholarship commitment of $250,000 established the Fitzgerald Family Women’s Basketball Scholarship which will be awarded in perpetuity. A development fund gift of $17,500 allowed the women’s basketball program to invest in two critical, immediate needs. Bob is the co-founder and former owner of FCA Inc. and together the Fitzgerald’s raised three children, one of whom is Iowa women’s basketball assistant coach Jenni Fitzgerald.
Bud and Georgia Johnson
After establishing their first endowed athletics scholarship in 2004 with a gift of $125,000 to benefit the women’s basketball program, the Johnson’s recently expanded their scholarship support to another women’s program at Iowa with a $200,000 gift to establish the Bud and Georgia Johnson Volleyball Scholarship. They also included a commitment of $25,000 to the volleyball foreign travel fund. Bud and Georgia own MinnTex Citrus as well as the Eastern Iowa Sports Facility, and have given very generously to many athletics capital projects over the years, as well.
Ned Postels was a member of the men’s basketball team that won a Big Ten championship for Iowa in 1945. The Ned and Reba Postels Family Athletic Scholarship was established 56 years later, with a $50,000 gift in 2011. The former owner of Grinnell Beverage Company added to his endowment recently, bringing his total scholarship gift to $750,000. His scholarship is now designated to the men’s basketball program. Ned cites the mentoring and guidance that he was given as a student-athlete as a catalyst for his generosity. Ironically, Ned was not on scholarship as a student-athlete. Ned recently celebrated his 91st birthday.
To review the over 200 athletic endowed scholarship recipients and the names of our endowed scholarships, or to read more about how endowed scholarship gifts can qualify for matching funds, please visit jointheiclub.com – please click on Giving, then Hawkeye Visions.