Endowed Funds An 'endowed fund' is like an institutional 'savings account,' where earnings derived from the fund are used to support NIU student scholarships and academic programs. The principal balance remains invested and is preserved in perpetuity. For this reason, gifts to endowments have a special and long-term positive impact on Northern.   You may choose to create an endowment in memory, or in honor, of a loved one; support an existing endowment; or establish a special purpose endowment to fit your personal goals. Whether you start a new endowment or build the value of an established fund, you are contributing to the educational enrichment of NIU students now and into the future.   Types of Endowments: Student scholarships (undergraduate and graduate) Program endowments to assist specific colleges, schools, or departments Faculty chairs and professorships Research Library Lectureships Athletics For more information, please contact John Bass, director of gift and estate planning, at 815-753-1859 or e-mail jbass@niu.edu.   Click here for information about Managing Endowed Donor Funds