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
Access to legal aid services can be essential to addressing your community's needs.
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.