Frequently Asked Questions

The Terry Scholars Fund was established to provide the most effective and impactful option for Terry Scholars who choose financial donations as a way to honor their give back pledge. The Terry Scholars Fund has intentionally been created as a public charity so donors can receive maximum benefits for their contributions while also enjoying a wider range of donation options, like corporate matching programs, donor advised funds, estate planning, etc. These benefits were previously limited by the Terry Foundation’s IRS status as a private foundation.

Is the Terry Foundation endowment in need of support? Is that why there’s a new ask for Alumni to give back monetarily?

Like all entities, the endowment is impacted by volatility in the financial markets, but rest assured, the endowment is strong. The Terry Scholars Fund’s purpose is to help Alumni and philanthropists who want to advance the mission of the scholarship program in a way that maximizes impact as well as donor options.

Knowing that the endowment is healthy, will my donation really make a difference?

Yes.

Every dollar donated brings us a step closer to impacting another student. If you have a passion for investing in education, the TSF can help you invest in students the way Howard and Nancy Terry did for you – through an established program that also offers a supportive lifelong community.

Whether you want to give back with a $10/month recurring donation or want to donate a significant portion of your stock portfolio, the Terry Scholars Fund is set up for where you are in your philanthropic journey. Reach out to donations@terryscholars.org if you would like help exploring this option for giving back.

100% of donations to the Terry Scholars Fund go to Terry Scholarships

Your donation to the Terry Scholars Fund will be used exclusively for scholarships that cover up to the full cost of attendance, not just student tuition, room, and board fees. The Terry Foundation endowment will continue to fund overhead (staff, etc.), Scholar engagement activities, and wrap-around services for the Scholars (on-campus organizations, mental health resource, etc.)

Your contribution helps address the ever-increasing cost of education at our partner universities, no matter the amount.

Currently, the average cost of attendance at Terry-affiliated Texas public universities is $28,850 per year. An optional, additional Terry study abroad stipend is $5,000.

For example, in 2022, Terry Scholars donated enough to cover the equivalent of  about 4 scholarships and 3 study abroad stipends!

Can I earmark that my donation be used for specific areas of study (like STEM or music), universities, or cohorts (like women, LGBTQ+, certain ethnicities, etc.)?

No, and here’s why: your gift makes the greatest impact when the Terry Foundation is able to direct it unrestricted into the endowment. Importantly, the Terrys believed that college is a time for exploration, and that is why the scholarship leaves the selection of majors up to the students. You may remember transferring to a new school or changing your major a few times in college yourself. The Terrys also believed in the importance of service, leadership, and academics, and these are the primary qualities we search for in scholarship recipients. Therefore, we want to continue the tradition of investing in individual scholars, and not in any specific major, university or cohort.

What are the tax benefits of donating to the Terry Scholars Fund instead of the Terry Foundation?

The Terry Foundation is a private non-operating foundation, as defined by the IRS, and there are greater limitations on donations to the Foundation as compared to those made to the Terry Scholars Fund, which is a public charity. Major differences include:

• The maximum tax-deductible donation amount is higher for public charities versus private foundations. See Charitable Contribution Deductions on irs.gov for more information.
• Donors cannot give to private foundations via many corporate or workplace matching programs.
• Donors cannot give to private foundations via donor-advised funds.

The disclosure requirements are also different. Donors to a public charity can opt to remain completely anonymous in the organization’s reporting. However, those who donate over $5,000 to a private foundation will be disclosed on the organization’s tax returns (including name and mailing address). If you wish to make an anonymous gift, please ensure that you list “The Terry Scholars Fund” as the gift beneficiary.

You can make your donation to the Terry Scholars Fund through several ways:

• Online terryfoundation.org/donate
• Over the phone: you can call our office at (713)552-0814 and speak with a Terry staff member to give over the phone (9am-5pm CST; Mon.- Fri.)
• Via Check: compete our mail-in form and send it to The Terry Scholars Fund, 3336 Richmond Avenue, Suite 450, Houston, TX 77098 
• By donating stock
• Via a wire transfer (recommended for larger gifts to avoid transaction fees)
• View all options with instructions>>

Printable Guide

Here are some of the ways Terry Alumni have considered donations:

• Matching the gifts of fellow Terrys, up to a pre-determined amount
• In lieu of wedding gifts, asking guests to donate to the Terry Scholars Fund
• In celebration of graduation, asking friends and family to donate to the Terry Scholars Fund for future students
• Lump sum amounts or monthly recurring donations
• Corporate matches (employers match employee donations)
• Giving Days like Giving Tuesday or North Texas Giving Day (hosted by Communities Foundation of Texas)
• Planned Giving in wills, etc.

If you have questions about how to make a donation, feel free to call our office at (713) 552-0814.

Yes.

As a donor to the Terry Scholars Fund, a public charity, you can request to remain anonymous. This means that you will not appear in any public listings of Terry Scholars Fund donors. Your name and contact information will still be available to the Terry Foundation for tax receipt purposes, but you will be listed as “Anonymous Donor” everywhere outside our donor database.

Please note that donors who designate “The Terry Foundation” as a beneficiary instead of “The Terry Scholars Fund” are subject to the rules for gifts to private foundations and may not be able to remain anonymous. Those who donate over $5,000 to a private foundation will be disclosed on the organization’s tax returns (including name and mailing address). If you wish to make an anonymous gift, please ensure that you list “The Terry Scholars Fund” as the gift beneficiary.

Our why and how:

WHY: The Terry Foundation’s mission is to develop future leaders of Texas through access to education. The scholarship is not just a monetary award. It is Howard and Nancy Terry’s vision brought to life – that Terry Scholars have free time for service and leadership activities on campus instead of having to work to pay for their education. The Terrys expected big things from their Scholars, not just all A’s in college. They wanted to see the Scholars step into leadership positions after college and change the trajectory of their communities. They believed that changing 1 student’s life had a ripple effect on that student’s family and community.

HOW: We provide a very “hands on” scholarship experience that covers up to the full cost of attendance for eight semesters of college, which is adjusted annually to account for the changing cost of higher education. The Terry Scholarship also includes a stipend for study abroad, as the Terrys believed in the value of a cross-cultural experience. The Terry Scholarship is also a “last dollar award,” which adjusts to cover funding gaps left from other forms of financial aid. Scholars are chosen based on their academic achievements, demonstrated leadership, and financial need. Each potential Terry Scholar is interviewed by a panel of Terry Scholars (Alumni and, in some cases, students) and board members and is assessed on the criteria listed above, as well as character, and their determination to succeed with the help of a college degree. Throughout their college experience, the Terry Scholars are provided direct resources on campus. These resources include a community of support from a professional campus coordinator, student organization, mental health resource, and extensive alumni network. These wrap-around services are complemented with touch points with the Foundation during the year including a Fall Banquet, a Spring Picnic, and various service and social activities with fellow Terry Scholars. Each Terry Scholar also completes an annual self-evaluation letter as a reflective practice, and these letters are answered by Terry Alumni, staff, and Board members.

The Terry Scholars Fund is a public charity designed to provide philanthropists with a way to support access to education through an established program with over 30 years of proven success. If you want to invest in outstanding Texas students, your gift to the Terry Scholars fund allows you to help provide a full-ride, last-dollar scholarship and a lifelong community to a young leader who will then be able to use the gift of an education to create opportunities for others.

The Terry Scholars Fund has intentionally been set up as a public charity so donors can receive maximum benefits for their contributions while also enjoying a wider range of donation options like corporate matching programs, donor advised funds, estate planning, etc. These benefits were previously limited by the Terry Foundation’s IRS status as a type of private Foundation.

100% of donations to the Terry Scholars Fund go to Terry Scholarships

Your donation to the Terry Scholars Fund will be used exclusively for scholarships that cover up to the full cost of attendance, not just student tuition, room, and board fees. The Terry Foundation endowment will continue to fund overhead (staff, etc.), Scholar engagement activities, and wrap-around services for the Scholars (on-campus organizations, mental health resource, etc.)

Your contribution helps address the ever-increasing cost of education at our partner universities, no matter the amount.

Currently, the average cost of attendance at Terry-affiliated Texas public universities is $28,850 per student, per year.

An optional, additional Terry study abroad stipend is $5,000 per student, for those who qualify.

Can I earmark that my donation be used for specific areas of study (like STEM or music), universities, or cohorts (like women, LGBTQ+, certain ethnicities, etc.)?

No, and here’s why: your gift makes the greatest impact when the Terry Foundation is able to direct it unrestricted into the endowment.

Importantly, the Terrys believed that college is a time for exploration, and that is why the scholarship leaves the selection of majors up to the students. The Terrys also believed in the importance of service, leadership, and academics, and these are the primary qualities we search for in scholarship recipients. Therefore, we want to continue the tradition of investing in individual scholars, and not in any specific major, university or cohort.

What are the tax benefits of donating to the Terry Scholars Fund instead of the Terry Foundation?

The Terry Foundation is a private non-operating foundation, as defined by the IRS, and there are greater limitations on donations to the Foundation as compared to those made to the Terry Scholars Fund, which is a public charity. Major differences include:

• The maximum tax-deductible donation amount is higher for public charities versus private foundations. See Charitable Contribution Deductions on irs.gov for more information.
• Donors cannot give to private foundations via many corporate or workplace matching programs.
• Donors cannot give to private foundations via donor-advised funds.

The disclosure requirements are also different. Donors to a public charity can opt to remain completely anonymous in the organization’s reporting. However, those who donate over $5,000 to a private foundation will be disclosed on the organization’s tax returns (including name and mailing address). If you wish to make an anonymous gift, please ensure that you list “The Terry Scholars Fund” as the gift beneficiary.

You can make your donation to the Terry Scholars Fund through several ways:

• Online terryfoundation.org/donate
• Over the phone: you can call our office at (713)552-0814 and speak with a Terry staff member to make a gift over the phone.(9am-5pm CST; Mon.- Fri.)
• Via Check: compete our mail-in form and send it to The Terry Scholars Fund, 3336 Richmond Avenue, Suite 450, Houston, TX 77098
• By donating stock
• Via a wire transfer (recommended for larger gifts to avoid transaction fees)
• View all options with instructions>>

Printable Guide

Here are some other ways to donate:

• Matching the gifts of fellow donors, up to a pre-determined amount
• In lieu of wedding or birthday gifts, asking guests to donate to the Terry Scholars Fund
• In celebration of graduation, asking friends and family to donate to the Terry Scholars Fund for future students
• Corporate matches (employers match employee donations)
• Giving Days like Giving Tuesday
• Planned Giving in wills, etc.

If you have questions about how to make a donation, feel free to call our office at (713) 552-0814.

Yes.

As a donor to the Terry Scholars Fund, a public charity, you can request to remain anonymous. This means that you will not appear in any public listings of Terry Scholars Fund donors. Your name and contact information will still be available to the Terry Foundation for tax receipt purposes, but you will be listed as “Anonymous Donor” everywhere outside our donor database.

Please note that donors who designate “The Terry Foundation” as a beneficiary instead of “The Terry Scholars Fund” are subject to the rules for gifts to private foundations and may not be able to remain anonymous. Those who donate over $5,000 to a private foundation will be disclosed on the organization’s tax returns (including name and mailing address). If you wish to make an anonymous gift, please ensure that you list “The Terry Scholars Fund” as the gift beneficiary.