Create Your Own Legacy

The following outlines the requirements to establish a new CACF scholarship, as well as the duties and responsibilities of the donor and the Collinsville Area Community Foundation.

Funding Requirements

• $5,000 minimum initial funding requirement
• Donors may engage in fundraising to perpetuate the scholarship into the future.
• If the scholarship balance drops below $1,000, the scholarship will terminate, and the remaining balance will be folded into the CACF General Fund.

Donor Responsibilities

• Formal name of the scholarship
• Written narrative explaining the origin of the scholarship, scope of the scholarship (dollar amount and length of time), as well as general guidelines for potential recipients.
• Customize the scholarship application template (provided by CACF).
• Determine the application deadline for the scholarship (most are April 1st)
• Determine scope of involvement: The donor can choose the level of involvement or delegate these responsibilities to the CHS Counseling Department. Receive & review scholarship applications.
• Selection of scholarship recipient(s)
• Notify scholarship recipients they have been selected.

CACF Responsibilities

• Invest scholarship funds into the CACF investment & bank accounts.
• Accounting of the scholarship income and expenses as it relates to the overall CACF balances.
• Provide a thank you email and donation receipt when donations are collected via the website.
• Update the CACF website with the scholarship information (narrative and details).
• Provide a link on the website to the scholarship application.
• Issuance of scholarship check(s) directly to the school.
• Social media posts regarding the scholarship

Administrative Fees

• CACF will impose a 1% quarterly fee to be allocated to the General Fund for costs associated with the foundation, including accounting, legal, software, etc.

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