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Scholarship Funds

Create a charitable fund at the Central New York Community Foundation that can help students pursue their educational dreams. A Scholarship Fund is a personalized fund you create to help others advance their education.

 

Getting Started is Easy

The Community Foundation works to help you establish a fund that achieves your unique charitable goals. With the assistance of our staff, you can determine the scholarship’s eligibility criteria, award amount and assist in the identification of an appropriate selection award process.

It takes $25,000 to open an endowed Scholarship Fund. You can use cash, stock, real estate or other assets to create a named fund, qualify for an immediate income tax charitable deduction and we will disburse your scholarship award(s) to the educational institution the identified recipients choose to attend. Additional gifts may be made to a Scholarship Fund at any time.

 

Reasons to Create a Scholarship Fund

It’s Easy. You determine the scholarship purpose and selection criteria and we manage the details to ensure that awards are disbursed in accordance with your wishes and in compliance with all applicable regulations.

It’s Permanent. Unlike a one-time gift or memorial, a scholarship fund at the Community Foundation will benefit students and the community forever.

It’s Flexible. Your fund will award scholarships only to eligible recipients, vetted through an appropriate selection process. This ensures that your giving goals and educational priorities are met.

It’s Personal. Your fund is established according to your values and goals – from the eligibility requirements to the award purpose, you create the criteria and guidelines. Oftentimes, a fund is created in honor or memory of a loved one. The gift of education that a scholarship fund creates is a permanent tribute to the person or organization for which it is named.

It’s Efficient. We handle the administrative tasks of your fund – from keeping track of your gifts and awards to contacting the schools – all for a competitive administrative fee.

 

How Our Scholarship Funds Work

We pool our more than 700 charitable funds for investment purposes and each receives its pro rata share of the investment return. The amount available for distribution from a scholarship fund each year is 4.4% of the fund’s 20-quarter rolling average. We average the fund balance over the most recent 20-quarter period and multiply it by 4.4% to calculate the annual spending amount. This approach protects the long-term value of the fund, promotes growth, and buffers against wild fluctuations in the amount available from the fund for scholarships on an annual basis.

 

Learn More:

Why Partner With Us
Types of Assets
Legacy Planning
Administrative Fees
Request a Meeting


Watch Video: What is the Central New York Community Foundation?



Want to talk about your specific giving needs?
Contact us through this form or call
(315) 422-9538.