Establishing a Scholarship

Establishing a scholarship with the Foundation for Seminole State College will create an everlasting memory of your generosity. Your contribution can help bright students — who may not otherwise have the opportunity to go to college — acquire the knowledge and education they deserve.

There are three steps to creating a scholarship:

  • Decide whether to create an endowed or non-endowed scholarship.
  • Create a Memorandum of Understanding (MOU).
  • Sign the MOU.

Endowed and Non-Endowed Scholarships

An endowed scholarship will be awarded in perpetuity.

Endowed scholarships are established with an initial gift of $1,000, followed by a gift of $3,000 a year for three years. Once the fund reaches a minimum of $10,000, it is invested, and a scholarship is awarded based on the earnings. This type of scholarship lasts indefinitely, and an average annual award is $1,000.

A non-endowed scholarship is a finite award but can be upgraded to endowed at any time if desired.

This type of scholarship is established with a minimum gift of $1,000 a year and a minimum three-year commitment. Scholarships may be awarded after the first donation. Non-endowed scholarships can be created for timely events, departmental projects such as disaster relief scholarships or study abroad sponsorships, or for specific fields of study.

Memorandum of Understanding

An MOU is a legal (but non-binding) document that clarifies all aspects of your scholarship, including award criteria and a plan of payment.

After the MOU

After the MOU has been signed by the Foundation Executive Director and the scholarship donor, the document becomes a contract. The scholarship award process may begin once the appropriate funding has been established.

If you are interested in establishing a scholarship, please email the Foundation.

Statement required by Florida statute 496.411(3)

A copy of the official registration (#ch37868) and financial information may be obtained from the division of consumer services by calling toll-free (800.435.7352) within the state of Florida, or visiting www.800helpfla.com. Registration does not imply endorsement, approval, or recommendation by the state.

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