Scholarship funds are a vital resource that can enable students to realize their educational dreams, or benefit the schools and universities of your choice. Silicon Valley Community Foundation offers two types of scholarship funds.
An SVCF-managed scholarship fund provides scholarships for Bay Area students. With this type of fund, SVCF staff administers the entire process, from creating and distributing applications to disbursement of funds. SVCF appoints a volunteer committee to review student applications and selects recipients based on the committee's recommendations.
A gift of $250,000 or more is required to establish an SVCF-managed scholarship fund.
A donor-involved scholarship fund allows you to participate more actively in the scholarship recipient selection. When you establish a donor-involved scholarship fund, you are required to oversee a selection committee that is external to the community foundation. The external selection committee is responsible for creating and distributing applications and selecting recipients. You designate a committee manager who is responsible for annually filing the appropriate paperwork with community foundation staff and documenting the scholarship selection process. A gift of $50,000 or more is required to establish a donor-Involved scholarship fund. Annual documents are required before funds will be released.
In accordance with Internal Revenue Service regulations, SVCF must ensure the fair distribution of funds based on a process that allows for fair competition.
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