If you are interested in learning more about how to establish a scholarship fund and you would like to discuss the process, please call (877) 253-4380.
CommunityGiving administers a number of scholarship funds that are established by individuals, clubs, corporations, and associations wanting to assist area students in continuing their education. The Foundation's scholarship fund minimum of $20,000 with a 5% payout would yield an annual $1,000 scholarship.
Donors can choose to set up a fund to benefit students from a particular high school or at a particular post secondary institution through CommunityGiving. Students at multiple schools can benefit from a scholarship if the fund is large enough to generate several scholarships of $1,000 or more each year. CommunityGiving can help donors work with a school to establish the selection process and criteria for the scholarship. Partnering with schools helps CommunityGiving minimize administrative costs and get more scholarship dollars out to students.
In order to best facilitate a donor's wishes, the scholarship program should set forth identifiable minimum eligibility requirements that are related to the purpose of the scholarship. It is wise to specify enough criteria to secure a targeted pool of applicants. However, too many criteria may limit the pool of applicants each year.
To meet IRS standards, scholarship funds should:
Scholarship funds are established with a simple letter of agreement between the donor and CommunityGiving. If you would like to learn more or would like to discuss the process, please contact (320) 253-4380.
Before meeting with CommunityGiving staff, you may want to give some consideration to the following items: