Kading Endowment established at USD A Northwest Iowa woman has created a new scholarship endowment to support The University of South Dakota's prestigious Alumni Scholarship program.
Erlene Kading used the proceeds of a charitable remainder unitrust created in 1981 and terminated in 1998 to fund the Edward and Erlene Kading Scholarship endowment, which will be managed by the USD Foundation.
Presidential Alumni Scholars receive in-state tuition and academic fees and the scholarship is renewable for up to four years, as long as the student remains eligible. Initial selection criteria include a composite ACT score of 27 or above or a 3.75 or higher grade point average.
Edward Kading, who died in 1998, was a Sioux County, IA farmer and livestock feeder. His wife, Erlene, is retired from a 32-year teaching career, including five years in a one-room rural school, five years in a two-room school at Craig, IA and 22 years in the Ireton, IA Public School and the consolidated West Sioux School system as a fourth grade teacher. She received her bachelor of arts degree from Westmar College in Le Mars and has attended graduate courses at USD over the years.
In creating the new endowment, Mrs. Kading said that educational institutions must provide a productive learning environment and opportunities to create and test new teaching methods. The Edward and Erlene Kading Endowment is intended to support Presidential Alumni Scholars who major in education and plan to become teachers.
The mission of the USD Foundation is to provide private financial resources for the University, in order to increase the excellence of the educational experience provided by USD, with the goal of creating the best small public university in the nation emphasizing excellence in teaching.
Total new giving to the USD Foundation last year was close to $5 million, up 28 percent from the previous year. Total net assets of the foundation increased by 16 percent in FY98, to $62 million in assets as a result of generous gifts and bequests from alumni and friends of USD.
Last year, the USD Foundation granted more than $1.7 million in scholarships, about $1.35 million for support of the academic departments of the university and over $134,000 for capital projects and equipment. New endowments for scholarships or other purposes that benefit the university may be created within the USD Foundation for as little as $5,000 contributed over two years.