The
East Texas Communities Foundation administers scholarship
funds for donors, non-profit organizations, civic
clubs and service groups and businesses.
Most scholarship funds are started
with a permanent endowment contribution that can
be added to by the donor or by others at any time.
The contributions are invested by the Foundation,
and the earnings from the fund are utilized each
year for the scholarships according to the criteria
established by the donor.
The Scholarship can bear the name
chosen by the donor or sponsoring organization,
and the recipient is always informed of the source
of the scholarship funds. Often scholarships are
established as memorials for individuals whose
interests are perpetuated by the fund.
Scholarship Funds at the Communities
Foundation are ideal for donors who would like
to have the administrative details of the scholarship
program handled by a professional staff.
All permanent scholarship funds
receive the benefit of the Foundation's professionally
managed investment program which will protect and
enhance the scholarships value into the future.
All scholarship funds must meet
criteria established by the Internal Revenue Service
and must have an objective process by which recipients
are chosen. Scholarship funds may be established
with a contribution of any size, but it is the
Foundation's policy that no scholarship are awarded
until the Scholarship Fund's balance reaches $10,000.
