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Establishing a Scholarship Program through GHCF
The Greater Houston Community Foundation, through the generosity of our donors, offers a variety of scholarship opportunities to provide financial assistance for qualified students desiring to pursue a higher education.
Donors interested in a scholarship fund can offer an opportunity for students to reach their goals and also provide a tangible link to the future. The gift of education not only benefits the student, but also the community. It is a wonderful way to inspire and support young people and to recognize the contribution that education has made in the donor’s life.
Scholarship funds can be established to honor or memorialize an individual or family, serve a specific purpose that is important to the donor, benefit students in a particular school or municipality, or be established by professionals interested in encouraging students to enter a particular field of study.
The Greater Houston Community Foundation offers expert advice in the design and management of successful scholarship programs and will be happy to assist you in creating a scholarship fund to obtain your charitable goals.
When the scholarship fund is established, the donor or group should define the eligibility requirements for the selection of candidates. Note the criteria examples indicated below:
- Students 18 years old and over that have been accepted into an accredited dental program.
- Graduating seniors of ABC High School who are enrolling as full-time students in an accredited college or university.
- Employees of ABC Stores that have accumulated at least 1,000 hours of employment service, have graduated from high school or an equivalent and plan to enroll in an accredited college or university.
It is the donor or sponsoring organization's responsibility to:
- Determine, in consultation with the Greater Houston Community Foundation, the criteria for selecting the candidates. The criteria may include but are not limited to personal and academic qualifications, financial need, extracurricular activities or community involvement.
- Publicize the scholarship so prospective students know that the scholarship exists.
- Decide whether the award should be for four years or one year only and, if it is renewable, determine the criteria for subsequent awards.
- Appoint a liaison to ensure good communication between the committee and the Foundation and to provide the Foundation with the records required by the IRS for documentation.
Scholarship funds are established through a fund agreement and contributions may be made to the fund through future gifts. On a quarterly basis, the donor or sponsoring organization will receive a statement summarizing fund activity including scholarship awards, additional gifts, payments, investment gains or losses, and fees.
Scholarship awards shall be paid directly to the university the student will be attending and can only be applied toward tuition, books and fees. All scholarships are awarded in a fair, equitable and non-discriminatory selection process and are subject to the approval of the Board of Directors of the Greater Houston Community Foundation.
IRS rules require that scholarship programs benefit members of a charitable class, e.g., a group that is large enough so that an indefinite number of individuals may benefit, or a group by virtue of circumstances beyond the control of the selection committee.
The Greater Houston Community Foundation may participate in the selection process, or be notified of the winner's name, address, the amount of the award, and the institution they will be attending. The Foundation will have the responsibility for fund management and administration, for check processing, gift receipt and acknowledgment and fiduciary oversight of the program.
For questions or information on establishing a scholarship fund at the Greater Houston Community Foundation, contact Judy Everett at 713-333-2202 or email jeverett@ghcf.org.
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