Scholarship Funds

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.

SVCF Managed 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. See a list of our SVCF Managed Scholarships

Donor Involved Scholarship Funds

A Donor Involved Scholarship Fund allows you to participate more actively in the scholarship 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. See a list of Donor Involved Scholarships.

Requirements for all Scholarship Funds

In accordance with Internal Revenue Service regulations, Silicon Valley Community Foundation must ensure the fair distribution of funds based on a process that allows for fair competition. All scholarship programs must be established for a broad charitable class and the selection process must be objective and non-discriminatory. In addition, no donor, member of the selection committee or anyone related to the scholarship fund's advisors, can receive any material benefit from any grant distributed from the fund.

In all cases, the selection committee for scholarship funds at Silicon Valley Community Foundation are appointed by the community foundation, but members may be recommended by the donor. The donor and parties related to the donor may serve on the selection committee, but they cannot directly or indirectly control the committee. Each scholarship selection process must be approved annually by the community foundation's board of directors.

Once scholarship decisions are made, the community foundation disburses scholarship funds to the institution the recipient attends and will not disburse a grant to a specific individual.

 

Silicon Valley Community Foundation is not engaged in rendering legal, financial, or tax advice. Information in our publications and on our website is provided as a service to provide general information about charitable giving. Many topics related to charitable giving have complexities and nuances that cannot be adequately detailed in brief articles or announcements. Individuals’ personal situations may vary. Please consult your financial or legal advisor. Performance data is based on past performance and is no guarantee of future results. If you would like to report discrepancies with information presented, please contact us at info@siliconvalleycf.org.