Establishing a Scholarship
Join the dozens of Resurrection College Prep High School donors who help students achieve their dream of a Resurrection education. Creating a named scholarship is one way you can assist students and leave a legacy to Resurrection. It is also a very meaningful way to honor a friend, family member, or a respected teacher. As a scholarship donor, you will receive thank you notes from the students who benefit from your generosity, as well as an annual progress report.
Types of Scholarship Funds
Endowed scholarship funds are designed to be permanent and perpetual; they can be created with a gift in the amount of $50,000 or more. Make a one-time gift, or fulfill the commitment over a period of up to five years. The principal of the fund is invested and remains untouched and the interest income is awarded annually to students. This way, the endowment can last into perpetuity.
Annual scholarships can be established with an outright gift of $1000 or more. An annual commitment of $1000 or more a year for five years is recommended. The gift is awarded to recipients over the five year period. Unlike endowed scholarships, an annual scholarship is not a permanent fund and is awarded only as long as you (or others) choose to contribute to the fund.
Establishing Scholarship Criteria
As a scholarship donor, you have the opportunity to choose the name of the scholarship, as well as the criteria. The Resurrection Development Office staff is available to help you create the criteria for your scholarship.
Administration of Scholarships
When a donor decides to establish a scholarship, a scholarship agreement is drafted, which governs the establishment and awarding of the scholarship funds. Scholarship applications submitted by students can be reviewed based on the selection criteria by either the donor or a selection committee established by the school. Scholarship donors are invited to the school for the presentation of the scholarships and to meet their recipients in person.
Tax Benefits of Establishing a Scholarship
An outright gift in the form of cash or appreciated securities will allow you to receive immediate tax benefits in the year you make the gift to Resurrection College Prep High School.
You can also provide for your scholarship in your estate plans. Estate gifts or planned gifts are an easy way to establish a scholarship for the future without affecting your current income or assets.
Giving to an Existing Scholarship
If you are interested in providing funding for scholarship purposes, but you are not ready to establish a named scholarship, contributing to an existing scholarship is an opportunity that may fulfill your intentions. Simply earmark your contribution for the Hope Scholarship fund or select an existing scholarship from among the list of current Resurrection College Prep Scholarships.
For more information about the Resurrection College Prep High School scholarship program, please contact Sr. Donna Marie Wolowicki, C.R. at email@example.com or 773.775.6616 Ext 139.