Richard P. and Sylvia Budd Endowed Scholarship

In August 2013, the Richard P. and Sylvia Budd Endowed Scholarship was provided through a deferred pledge agreement by Dr. and Mrs. Richard P. Budd. Dr. and Mrs. Budd are residents of Winston Salem, North Carolina, and Dr. Budd is a graduate of the Class of 1963 and a member of the University’s Board of Trustees. The University shall use the assets of the Richard P. and Sylvia Budd Endowed Scholarship to provide scholarship awards to its students, giving preference to students majoring in Communication or Business. Before any distributions are made from the Scholarship, the fund shall have a minimum funding balance of $500,000 and distributions from the Scholarship shall not cause the fair market value of the assets of the Scholarship to fall below $500,000. ** Amended 4/5/18 (see notes on Dr. Budd’s record) – the awards should be in $5,000 increments each, and the entire distribution should be awarded each year.