Gifts for endowment are never spent. Instead, they are prudently invested according to the University's Endowment Investment Policy. It takes a gift or pledge of $50,000 to endow a scholarship fund at Gonzaga University. A Donor may choose how the money is allocated, but in order to give the University the greatest flexibility in designating the awards to students with the greatest need, most donors leave their scholarships "unrestricted."

When a donor establishes an Athletic endowment at Gonzaga, options for giving include cash, securities, gifts-by-will, life income gifts, life insurance gifts, or real estate and personal property. Once the fund is established, additional gifts of any size may be added at the donor's discretion. Each year approximately five percent of each scholarship fund's market value is awarded to students according to the donor's wishes such as for athletic scholarships, athletic staff support or athletic facility support.

The donor has the opportunity to choose a name for the endowment fund that will live on in perpetuity at the University. Donors often choose to memorialize a loved one in naming their endowments. Every year these names of endowed scholarships are listed in the publication Names that Live.