Scholarship endowments are gifts held in perpetuity and invested in a manner that protects the principal from inflation. The investment income provides a stable funding source for Purdue Athletics to use for student-athlete scholarships. Not only will your scholarship endowment support the education of a student-athlete for years to come, but will provide immediate benefits to you.
Our John Purdue Club staff can help you choose the most beneficial gift asset and the best method for transferring it to the University in order to achieve your giving objectives. Endowment agreements, signed by the donor and Purdue, delegate to the University the responsibility of administering the funds according to the donor’s wishes in perpetuity.
The minimum to create a scholarship endowment is $50,000. The distribution is 4%.
Income — interest and dividends, less appropriate expenses, plus capital appreciation — is distributed semi-annually on May 1 and November 1. The distribution is a percentage of the average ending market value of the total endowment for the prior 12 quarters. Using a 12-quarter average protects the amount that is distributed from short-term fluctuations in the market.
Specific tax and financial benefits from your gift depend on what type of asset you give and how you transfer it to the University. You may be able to receive federal and state income tax benefits, avoid or reduce capital-gains tax liability, and qualify for estate or gift tax deductions. We recommend you consult with your attorney or accountant for advice on the legal and tax implications of any gift you might make.
For more information on endowments at Purdue University, click here.
Patsy earned a bachelor’s degree in food and nutrition in business from Purdue in 1969, in addition to an MBA in food marketing from Michigan State University in 1970. She retired from Kraft Foods in 2006 after 36 years in corporate food marketing and marketing communications management.
A community volunteer, Patsy serves on the Women’s Fund of Central Indiana Advisory Board and the Purdue College of Health and Human Sciences Dean’s Leadership Council, in addition to the President’s Council Advisory Board. She is a former member of the Health and Human Sciences Alumni Board. Patsy held several offices from 2006 through 2013, including president and treasurer. She serves her community’s Discover Indianapolis Club in Fishers, holding several leadership roles for over 10 years.
Patsy has received several honors, including the Purdue University Nutrition Science Department Hall of Fame recipient in 2009 and the Purdue University College of Health and Human Sciences Distinguished Alumni Award in 2016. She also received the college’s Gold and Black Award in 2016, an honor reserved for donors who have moved the college forward by committing exceptional financial resources.
In addition to endowing two scholarships, the Patsy J. Mellott Scholarship and Patsy J. Mellott HHS Scholarship, she established the Patsy J. Mellott Teaching Innovation Award in the College of Health and Human Sciences in 2013. In 2015, she endowed the Patsy J. Mellott Women’s Tennis Coach Performance Award. She is a lead donor in the Christine M. Ladisch Faculty Leadership Award and the Purdue Women’s Network Virginia C. Meredith Scholarship for the College of Health and Human Sciences.
