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Penn State Minnesota Alumni Chapter

For the Future: The Campaign for Penn State Students

Fellow Penn Staters,

    I am writing to our Minnesota Nittany Nation an open thank you letter. Why is that? I am so excited to announce that over the past 4 weeks as alumni like yourself have been renewing your local chapter dues (you have done that, haven't you?), you have graciously continued to support the Daniel S. Johnson Scholarship Endowment Fund by donating an additional $745 dollars. So why is your President getting all teary-eyed over this? Your donation in the past few weeks has officially pushed our chapter over $66,000 in our fund!!! Once we submit the recent funds to the University, our endowment will have a book value of $66,422.

    To re-freshen your memory, we initially announced at the March 2010 Annual Dinner (and formally in an email on 5/5/10) that we had a goal of raising $22,000 by June 30, 2014 which would bring our scholarship to $66,000 (an incredible 50% increase!) Not only have we met our goal, we did it in great timely fashion as well, in just 17 months!

    Thank you, thank you, thank you, to everyone who has helped us reach of this milestone by generously opening your pocket books and donating. Every dollar has helped and with over 35 months left in the For the Future: The Campaign for Penn State Students campaign, it goes without saying that we are going to absolutely crush our goal. Everything we do to continue to increase our endowment is only going to benefit our local students even more. I am so excited about the potential that we still have on the table - just how much can we raise!?!?

   UPDATE - October 21, 2013: In addition to the current scholarship, the Chapter’s Board of Directors has been investigating the possibility of a second scholarship through a program known as The Trustee Matching Scholarship Program. So what is this, and why would we consider it? Through this program, the University would match 10% of the initial pledge. When the endowment becomes fully funded, the Trustee Scholarship will provide approximately 15 percent of the endowment’s market value each year as opposed to the current 4.5% in our existing scholarship. ($50,000 book value equals $7,250 in scholarship available each year.) The ‘catch’ is that we have just five years to raise the amount of our initial pledge (a minimum of $50,000). The reason why we would create this second scholarship is to take advantage of the University essentially doubling our pledge and thus allowing us to give out even more scholarship money.

   We have been setting aside funds for a “jump start” but still are looking at a steep mountain ahead. We have until March 31, 2014 to make the commitment. If you are interested in making a pledge, would like more information or have fundraising ideas, please contact Brian Binkley.

    Individual contributions can be made at the time of renewing your dues, or by sending a check, payable to PSAA-MN to:

Dan Gordon
c/o Penn State Minnesota Alumni Chapter
12840 54th Ave N
Plymouth, MN 55442

    If you are interested in obtaining a tax donation receipt, please contact me directly prior to making a contribution and I can assist you with this.

   We would like to thank everyone for their steady support in our on-going efforts to support our local Nittany Lions. With your generosity, we have been able to provide over $20,000 in student aid to students from Minnesota attending Penn State. Again, from the bottom of my heart and on behalf of the students of our future, thank you.

For the Glory,

Brian Binkley '02
PSU MN Alumni Chapter