Establishing a Scholarship or Program Fund
Sinclair Community College welcomes donors who desire to establish scholarship or program funds which benefit students or programs at the College. We encourage donors to consult with the Foundation staff when establishing fund criteria to ensure the fund will meet the donor's expectations and fulfill a need at the College.
Donors have the opportunity to set the criteria for your scholarship. For example, donors may wish to direct their scholarship fund to reward students who will be in their last semester of a program but need financial assistance to complete. Other criteria to consider are the student's program, grade point average, and whether the student is enrolled full or part time.
Program funds can assist academic programs and colleges with faculty development, new technolgies and other needs which may not be covered through regular college operations.
Endowment or Restricted Funds
Scholarship and program funds may be set up either as an endowed or a restricted fund.
An endowment is a permanent "trust" account established by a donor. A total commitment of $20,000 will create an endowed scholarship or program fund, but the account may be built up over the course of multiple years. The Foundation bears the fiduciary responsibility for management of endowment funds. A formal investment policy provides for both growth and expenditures.
Donations are accepted in the form of outright contributions, memorials or honorariums. a donor has three years to complete their commitment and activate their endowment. If the donor is unable to complete the $20,000 commitment within three years, their gift will be transferred to the Foundaiton fund or they may be granted an extension upon request.
It is easy to establish an endowed scholarship or program fund in your name, in the name of your business or in honor of someone you love. By doing so, an annual scholarship or program award will be given in perpetuity to a student or proposoal that meets the requirements. The Sinclair Foundation will work with you to execute an endowment agreement designed with or without criteria. An endowment fully-funded by December 31 will be awarded the following academic year.
Restricted scholarship and program funds are donations given directly to fund the scholarshps or programs without the preservation of the orginal gift principal. These funds shall be expended as directed by the donor. There is a $15,000 minimum donation amount for a restricted fund.
It is easy to establish a restricted fund in your name, in the name of your business or in honor of someone you love. The Sinclair Foundation will work with you to execute an restricted agreement designed with or without criteria.