Establish a Scholarship
The Elk Grove Regional Scholarship Foundation administers two types of scholarships:
An “endowment” scholarship is one that achieves the goal of at least $20,000 invested within a six (6) year period or less. When fully funded at the $20,000 endowment level, the endowment will be allocated four (4) scholarship units. Expanded levels are in $5,000 increments (above the initial $20,000) and will increase the scholarship by one unit each. As of November 2007, each unit represents $250 in scholarship dollars awarded; however, unit values are adjusted according to prior year’s earnings, subject to Board approval. The full endowment contribution must be received by the Foundation by March 30 a full year prior to the scholarship being awarded.
Pass Through Scholarship
This is a one-time scholarship funded no later than September 30 of the year prior to the May Spotlight on Scholarships Award Night (a minimum of $1,000 is required with a $25 annual processing fee).
- You may select and create the criteria for the scholarship you are establishing within IRS guidelines. These may include such things as grade point average and college major.
What are the Steps to Establish a Scholarship with the Elk Grove Regional Scholarship Foundation?
- Complete the included Application to Establish a Scholarship and return it to the Foundation.
- Include initial contribution and $25 processing fee made payable to Elk Grove Regional Scholarship.
- Foundation with the scholarship name on the memo line of the check.
- Your application will be reviewed by the Scholarship Committee. This committee may contact you for clarification or further information. An e-mail address is necessary.
- The Scholarship Committee will recommend acceptance or rejection of the scholarship. (Your application will not be forwarded to the Board until it is complete.)
- The Elk Grove Regional Scholarship Foundation Board will accept or reject your scholarship.
- You will be notified of the Foundation’s decision.
Application deadline is September 30 of the year prior to the May Spotlight on Scholarships event.
Note: Please be advised that this application is subject to the Scholarship Policy in effect as of the date hereof and that the policies, terms, and conditions set forth in the Scholarship Policy shall control any contribution by you in establishing a scholarship fund. Once the scholarship has been approved and established, it will be subject to any amendments and changes subsequently made to the Scholarship Policy by the Board of Directors. Please consult with your tax advisor regarding tax deductibility of any donation to the Elk Grove Regional Scholarship Foundation.