Setting up a Scholarship

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Funded Scholarship Guidelines

Introduction

The following policy guidelines assist donors as they pursue avenues of support for students attending Valley Forge Christian College. The guidelines apply to new Funded Scholarships. Previously Funded Scholarships utilize the guidelines in place when the scholarship was established.

Funded Scholarships are created by friends of the College to establish scholarships for deserving students, to honor the memory of loved ones or to support a specific course of study.

The primary consideration for these guidelines is the opportunity to bless students as they navigate the increasing cost of private higher education. While the College strives to control the cost of programs, a labor and facilities intensive operation must acknowledge the real cost of providing a quality Christian higher education experience. As these costs rise, it is important that scholarship assistance remain strong.

The intent of all fundraising activities at the College is to build relationships and seek resources to support the College in a way that serves donors and glorifies God. To that end, the Funded Scholarship Guidelines are established to protect the interests of the College and the persons and other entities who support its programs.

Guidelines

A Funded Scholarship may be established through a gift of $500 or more. Gifts in the form of cash, credit cards and checks are accepted. All checks should be made payable to Valley Forge Christian College and in no event should be made payable to an employee, agent or volunteer for the credit of the college. A Funded Scholarship may also be initiated through gifting of publicly traded securities, real property and tangible personal property to the College. Upon receipt of such, the College will pursue the sale of the gift most likely to maximize its value. The Funded Scholarship will be established upon the sale of the gift.

Although Funded Scholarships may be established upon resolution of deferred gifts such as bequests, charitable remainder trusts, charitable gift annuities, life estate gifts and gifts of life insurance, it is the College’s preference that such gifts be used for the creation of Endowed Scholarships where possible. Scholarship awards from Funded Scholarships can only be made when the amount in the scholarship fund meets or exceeds the designated award amount.

The investment of Funded Scholarships will be directed by the Valley Forge Christian College Finance & Development Committee or the Board of Trustees or other parties as designated by the Board of Trustees. All gifts are reviewed under the Gift Acceptance Policy established by the Board of Trustees.

Endowed Scholarship Guidelines

Introduction

The following policy guidelines provide assistance to donors as they pursue avenues of support for students attending Valley Forge Christian College. The guidelines apply to new endowed scholarships. Previously endowed scholarships utilize the guidelines in place when the scholarship was established.

The Endowed Scholarship opportunity has been created in recognition of the desire by friends of the College to establish scholarships for deserving students, honor the memory of loved ones or support perpetually a course of study.

The primary consideration for these guidelines is the opportunity to bless students as they navigate the increasing cost of private higher education. While the College strives to control the cost of programs, a labor and facilities intensive operation must acknowledge the real cost of providing a quality Christian higher education experience. As these costs rise, it is important that scholarship assistance remain strong.
The intent of all fundraising activities at the College is to build relationships and seek resources to support the College in a way that serves donors and glorifies God. To that end, Endowed Scholarships Guidelines are established to protect the interests of the College and the persons and other entities who support its programs.

Guidelines

An Endowed Scholarship may be established through one of two methods. An immediate active scholarship may be funded by a gift of $10,000 or more. The minimum gift amount of $10,000 assures that the fund will provide, annually, a scholarship of at least $500. Gifts in the form of cash, credit cards and checks are accepted. All checks should be made payable to Valley Forge Christian College and in no event should be made payable to an employee, agent or volunteer for the credit of the college. An Endowed Scholarship may also be funded through gifting of publicly traded securities, real property and tangible personal property, to the College, which has a known liquid value of at least $10,000. Upon receipt, the College will pursue the sale of the gift most likely to maximize its value. The Endowed Scholarship will be established upon the sale of the gift.

The second method to establish an Endowed Scholarship is through an initial gift of $2,500 - $9,999. The initial gift will be held in the deferred scholarship portfolio for investment and growth. The deferred scholarship will maintain this status until such time as investment growth and/or additional gifts enable it to achieve the minimum funding status ($10,000) or higher level as designated by the donor. At that time, the deferred scholarship will become an active scholarship and will fund an annual award as established by the scholarship criteria designations. Endowed Scholarships may also be established upon resolution of deferred gifts such as bequests, charitable remainder trusts, charitable gift annuities, life estate gifts and gifts of life insurance.

Should the earnings designated for distribution from invested scholarship funds equal a whole number multiple (2x, 3x, etc.) of the targeted scholarship level, appropriate multiple scholarships may be awarded from that fund, applying the selection criteria on file.

The investment of funds for Endowed Scholarships will be directed by the Valley Forge Christian College Finance & Development Committee or the Board of Trustees or other parties as designated by the Board of Trustees. All gifts are reviewed under the Gift Acceptance Policy established by the Board of Trustees