Scholarship Funds

An endowed scholarship is established by an individual or group to support, in perpetuity, an educational opportunity or mission. Each year, the Community Foundation Board of Directors will authorize and approve the endowment spending policy for the next year based on recommendations from the Investment Committee. The annual distribution amount is currently 4%. The target is always to maintain the established purchasing power of the fund over time.

Donors can establish eligibility criteria for the scholarship as well as craft questions for the application. The Foundation will provide examples and templates for applications and selection criteria upon request. All scholarship funds are listed on the ACF website and applications made available on the Community Foundation’s online scholarships portal. Scholarship opportunities are marketed to area high schools and throughout the local community on an annual basis.

How it works:

·         You make a gift

·         We set up a special fund in the name of your choosing

·         You receive immediate tax benefits but scholarships can be awarded from the fund in perpetuity

·         Your gift is carefully invested in a commingled diversified portfolio and can grow over time

·         You establish the general goals and criteria for the scholarship and we handle all the administrative details