Lipscomb offers non-profit MBA scholarships
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Lipscomb University’s Master of Business Administration program has established new scholarships to aid applicants to its non-profit management concentration.
Ten scholarships equivalent to 25 percent of tuition will be offered to applicants planning to enroll in the January term, and another ten will be offered to applicants enrolling in August, said Steven Yoho, academic director of Lipscomb’s MBA program.
Scholarships will be awarded on the basis of merit as compared to admission scores of other qualifying applicants and a commitment to a career in the nonprofit sector. Once granted, the scholarship will apply as long as a student is enrolled and maintains enrollment standards, Yoho said.
“The nonprofit management concentration is important to Lipscomb University because it aligns with the service orientation of the university’s mission,” Yoho said. “In past years, the concentration has been our smallest in enrollment due to limited non-profit employer tuition reimbursement. We are committed to the middle Tennessee non-profit sector and through the scholarships, we will make the Lipscomb non-profit MBA more affordable for students committed to the field,” he said.
The number of universities offering a non-profit MBA concentration is growing across America, but Lipscomb is the only university in Tennessee with an MBA concentration in nonprofit management. (The University of Tennessee at Chattanooga offers a certificate in nonprofit management through its master of public administration program, and other institutions have non-profit education courses.)
There are 2,100 non-profits in middle Tennessee alone that could benefit from advanced management study, said Dr. Jim Vaillancourt, executive director of the Center for NonProfit Management. “The MBA concentration in nonprofit management provides the business acumen necessary to run a non-profit business. Nonprofits today have to be more businesslike,” Vaillancourt said.
“The personal income of most entry-level and mid-level professionals makes it difficult for them to pursue an MBA degree. The fact that Lipscomb is willing to offer this scholarship is great. It says about a lot about their support for the program and reduces what students have to pay out of their pockets,” Vailllancourt said.
Vaillancourt and Dr. Cayce Powell, executive director of TrustCore Charitable Strategies, teach two non-profit concentration courses – Introduction to the Nonprofit Sector and Marketing/Fundraising in the Nonprofit Sector.
Tuition for Lipscomb’s 33-hour MBA program is $550 per credit hour. The tuition charge includes books and parking fees, which results in “substantial savings” compared to programs without this benefit, Yoho said.In addition to the non-profit management curriculum, Lipscomb also offers MBA concentrations in leadership, accounting, healthcare management, and financial services.