The Cindy J. Arnold Endowed Scholarship Fund
Honoring Mrs. Arnold
In a career at FRA spanning 38 years, Mrs. Arnold has always made helping children achieve their potential and providing them the resources to be successful and happy the centerpiece of her extraordinary leadership. The school community is honoring Mrs. Arnold’s legacy to children by creating the Cindy J. Arnold Endowed Scholarship Fund to provide tuition assistance to families with extreme hardship. This permanent fund will ensure that countless other children in the future will have the same opportunities that over 200 children have had. “It’s the gift that keeps on giving. I would be honored for this to be my legacy for future generations,” Mrs. Arnold recently said with pride.
For more information, please contact David Hibbs, Director at [email protected] or 219-756-7300 x27
|Make a Gift Online|
Ways to Give
- Make a one-time gift to Forest Ridge Academy and write "Mrs. Arnold Scholarship" in the memo section of the check. Complete and return the pledge form.
- Make a one-time gift using a credit card by clicking the "Make a Gift Online" button above.
- Complete and return the pledge form/payment schedule. Gifts of $1,000 or more can be made in 1-3 annual payments.
- Call David Hibbs, Director of Development, at 219-756-7300 x27 or [email protected] or Margie Leitelt, Assistant Head of School, at 219-756-7300 x29 or [email protected].
- Your employer may match your gift. Contact your company's Human Resources Department or David Hibbs for more information.
Learn More About Endowed Scholarships
An endowed scholarship is a fund established to receive large donations in which the funds are designated for scholarship use--in this case, the Cindy J Arnold Endowed Scholarship Fund. This fund is meant to be permanent, so donations received are never actually spent. Instead, investment income earned from the endowment is used to fund scholarships for many years to come.
Some institutions, community foundations, and financial investment firms may require minimum amounts of least $25,000 to $50,000 to set up an endowed scholarship. If $100,000 is raised to create the Cindy J. Arnold Endowed Scholarship, the annual disbursement would be based on the distribution policy established and recorded in the Investment Policy Statement.
It is necessary to protect the principal amount raised so that over time the value of the endowment increases, thus allowing for greater disbursements each year while ensuring the fund remains in perpetuity to provide scholarship funds for future years.
The Head of School, in consultation with Mrs. Cindy Arnold, the Assistant Head, and Director of Finance, will determine if any family meets the criteria for receiving the scholarship. Eligible families must first apply for financial assistance at the time of contract renewal. Disbursements from the scholarship endowment fund will be sent to the FRA Business Office to be deposited into the student’s account and applied to offset the cost of tuition and/or fees.
The school has the right to invest the funds to increase the size of the endowment over time and can supervise this process throughout the Investment Committee of the Board of Trustees or management may be assigned to an investment manager who will oversee the funds in accordance with the fund’s Investment Policy Statement.