Scholarship Grants

Purpose: Support promising and deserving students by assisting them with the cost of their education

Eligibility:

• Individuals, organizations, and companies can establish scholarships
• Can honor or memorialize a loved one
• Scholarships can be established by donors with specific criteria

Fund Management:

• The Catholic Foundation manages the fund
• Award distributed directly to the school on behalf of recipient(s)
• Once established, anyone can contribute to a scholarship fund

Types of Scholarship Funds:

• Tuition Assistance Funds - Permanent funds holding principal in perpetuity, invested for benefit of particular purpose
• Scholarship Funds - Can be directed to specific populations or needs as donor designates

Minimum Establishment Amount: $10,000 for tuition assistance endowment

Existing Examples:

• Amazing Catholic Educators
• Additional funds available for contribution

Address: 1145 W. Long Lake Road, Suite 201, Bloomfield Hills, MI 48302

How to Establish a Scholarship Fund

1. Contact the Catholic Foundation team to discuss your scholarship intentions
2. Complete the Scholarship Fund Application
3. Establish fund with minimum gift of $10,000
4. Work with Foundation staff to determine scholarship criteria and recipients
5. Fund can specify particular populations or needs
6. Provide donor name (or request anonymity)
7. Once established, others can contribute to grow the fund

Required Materials:

• Scholarship Fund Application
• Minimum $10,000 gift
• Specifications for fund use (if desired)

Ongoing Process:

• Catholic Foundation manages investments
• Annual distributions made to school(s) according to donor wishes
• Fund grows and makes annual distributions perpetually

Support Available:

• Staff consultation to develop scholarship criteria
• Guidance on establishing endowment
• Financial management and reporting

Resources:

• Guide to Scholarship Funds available for review