As director of development for Southern Ohio State University (SOSU), you have been charged with developing a plan to endow 12 men's basketball scholarships. The current cost of a scholarship athlete is $45,000. With tuition expenses expected to increase at a 5.5% rate annually and the endowment's return expected to average 7% over time, calculate the total amount that will have to be raised to endow the 12 scholarships fully. Based on your work in Problem 1, develop a major gifts table for the capital campaign. Explain the method you used to construct the chart

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To calculate the total amount that will need to be raised to fully endow the 12 mens basketball scholarships we need to consider the future costs of t... View the full answer