Here's how, in this new reality caused by the coronovirus pandemic, community foundations can play a vital role in supporting both individuals and small businesses.
Making grants to individuals is a time-honored tradition for many foundations. Organizations that operate grants to individuals programs often find that these activities require in-depth legal knowledge. From information about granting scholarships for study to economic hardship awards, the following resources can help.
In-Depth knowledge on Grants to Individuals
You may wonder whether you can make grants to GoFundMe campaigns that are supporting localized efforts during disasters. Proceed cautiously: GoFundMe and many similar crowdfunding platforms are not registered 501(c)3 public charities, and therefore you need to examine carefully whether the campaigns hosted on these sites are charitable in nature.
Sample Scholarship Policies and Procedures
Continue the discussion on scholarships with Ben McDearmon as he discusses community foundation scholarship programs and questions about them frequently asked of the Council's Legal Team.
Community foundations can better meet the needs of local students while attracting more donors. Explore one community foundation’s experience in redesigning its scholarship program, as well as insightful findings from a recent report by National College Access Network. The Council's legal counsel will also address legal considerations involved with program changes.
Access to legal aid services can be essential to addressing your community's needs.
Frequently asked questions about establishing and administering scholarships.
Legal requirements for corporate foundation scholarship funds for corporate employees.
Information on bringing scholarship funds into compliance under the PPA.
When donors to scholarship funds see the impact that their money can have on the life of a student, they are often inspired to contribute more. Sometimes they will add more to the principal of the fund so that future awardees can receive bigger scholarships or more scholarships can be awarded. Where investment losses have reduced the value of the scholarship fund and the amount available to pay out, donors may wish to round up the year’s grants. On occasion, they wish to increase the size of awards given to students who have already been selected or provide funds for additional scholarships so that students who did not make the cut can receive aid. The timing of the donor’s renewed generosity may determine whether these additional gifts should be accepted and applied.