Have you ever considered establishing a scholarship fund on behalf of yourself, your family or even your business? By partnering with the Community Foundation of Greater Muscatine, we can make your dreams of supporting local youth through scholarships a reality. Establishing a scholarship endowment allows the donor to make tax-deductible gifts to the fund, as well as being eligible to receive the Endow Iowa Tax Credit. Whether you are interested in offering a scholarship to students at a specific high school or to all eligible students in Muscatine County, your partners at the Community Foundation can work with you to make it happen. Below is a list of some standard services provided when you establish a scholarship fund with us:
- Legally accept and acknowledge charitable contributions to the fund
- Provide donors with relevant charitable tax-deductible information
- Create scholarship and award criteria
- Review scholarship awarding criteria with local high school guidance departments
- Keep appropriate records for all scholarship recipients including enrollment verification and academic good standing
- Manage renewable scholarships by processing the payments to colleges over multiple years
- Process approved expenses from the fund – writing and distributing scholarship payments directly to colleges or universities
- Undertake an annual audit for all funds and file Federal Form 990
- Submit Endow Iowa Tax Credit applications for donors
Contact Leslie Sampson, Program Manager, at 563-264-3863 or lsampson@givinggreater.org for additional information or to establish a scholarship fund.