An annually funded scholarship provides support on a year-to-year basis through direct annual contributions, rather than an invested fund. This option allows you to make a yearly impact without the commitment of establishing an endowment. These scholarships may be given for one year or renewed annually at the donor’s discretion.
A minimum of $500 per year is required to establish an annual scholarship. However, due to rising education costs, the Foundation recommends a minimum of $1,000 for new scholarships. Contributions of $500 or more may be named, and donors may set selection criteria. Awards are made each year the fund is active and contains a minimum of $500.
To ensure timely distribution, annual scholarship funds must be received by June 1 each year.