Fees and Spending Policies for New Scholarships
Effective 3/1/2016
The Foundation offers three scholarship fund types: permanently-endowed, hybrid and pass-through.
All scholarship funds are subject to an annual fee of $500 or 1% of the fund size, whichever is greater.
All scholarship funds have a $1,000 award size minimum.
A permanently-endowed scholarship fund is designed to last forever. $30,000 is required to immediately establish this type of fund. Permanently-endowed scholarship funds are subject to our 4% annual spending policy.
A hybrid scholarship fund allows you to gradually build a permanent endowment while also making annual pass-through contributions so that you can start supporting students right away. The required minimum annual pass-through contribution is $1,500.
A pass-through scholarship fund allows you to start supporting students right away. This type of fund is not designed to last forever. A commitment of at least three years is necessary. The required minimum annual pass-through contribution is $1,500.
Scholarships may be renewable, allowing you to support students beyond their first year of college. Contributions large enough to cover the entire multi-year commitment, including fees, are required before recipients are selected.