Dr. Wayne L. Banwart Legacy Scholarship

The Fund will be created as an endowment, as defined by University and Foundation policy. The principal of the gift will be held in the Foundation endowment pool, and only the net income will be distributed to the University to be expended. If the Fund does not reach the minimum endowment level of $25,000 within twelve months of the due date of the final gift, the Fund may be utilized as a current use fund to be expended for the purposes set forth in Article 3. The Donor or others may make additional contributions to the Fund in accordance with Foundation policy. The Fund will benefit the College of Agricultural, Consumer and Environmental Sciences at the University of Illinois at Urbana-Champaign. (“Unit”). If for any reason the current functions of said Unit are transferred to another organizational unit of the University or the name of the Unit is changed, then the Fund will continue to benefit the Unit, as changed. The net income of the Fund shall be used to support undergraduate scholarships in the Unit, to be known as the “Dr. Wayne L. Banwart Legacy Scholarship.” The University may determine all other details about the use of the net income, including, but not limited to amount spent, recipients and timing, in accordance with University policies and procedures. The Donor intends to establish a fund at the Foundation in order to honor Professor Wayne Banwart and acknowledge the incredible impact he had on the Donor’s educational experience at the University of Illinois.