Establishing a Scholarship
Creating a scholarship is a great way to invest in your community through higher education. Scholarships may be used to further education of graduates from a particular high school, students in a specified field of study, or those enrolled at a chosen institution. The Foundation does assess a modest two-percent fee* (on scholarships less than $1,000,000) to handle all the administrative details and issue payments in the name of the scholarship you establish.
Setting up a scholarship fund at the community foundation is very easy and uncomplicated.
- The donor chooses to create a scholarship.
- The donor chooses a name for the fund - it can be their name, the name of someone special to them, or it can remain anonymous.
- A fund agreement is completed between the donor and the foundation to include criteria and selection process. See here for a sample scholarship fund agreement.
- The donor makes an establishing gift. See Ways to Give for the types of contributions you can make.
- The donor receives a tax benefit in the year the gift is made.
For a list of scholarships currently assisting student see the Scholarship Search.
We will be happy to help you with every step of the process or to answer any other questions. Contact the office at 765-529-2235 or email info@henrycountycf.org.
*Administrative fees are based on quarterly balances for the year and taken out monthly. As a Foundation that has been confirmed in meeting national standards of operation, we can assure our donors that we meet all IRS requirements that allow us to operate; which include the consists of accurate bookkeeping and accounting, a yearly audit and the labor and material costs of creating and gathering the required information to present scholarships in full compliance for both our donors and recipients.
