Here are Levels of Giving To The Fairmont Dollars for Scholars Chapter!
Silver ($1 - $499): Donations at this level will be deposited into the chapter’s general fund. |
Gold ($500 - $4,999): Donations at this level will be deposited into the chapter’s general endowment fund or awarded as a one-time scholarship(s) that may be awarded in the contributor’s name. |
Platinum ($5,000 - $9,999): Donations at this level will be deposited into the chapter’s general endowment fund or, if designated, an Endowed Scholarship(s) may be established which would generate an annual scholarship in the contributor’s name. This named scholarship will be paired with one or more other scholarships until it is funded at the Diamond Level. |
Diamond ($10,000 and above): Donations at this level will be deposited into the chapter’s general endowment fund or, if designated, an Endowed Scholarship(s) may be established which would generate an annual scholarship in the contributor’s name. Donors at the Diamond level can request that applicants who meet certain criteria (i.e. career or major, college choice, special financial need, etc) be given preference for the scholarship. These criteria are subject to some limitations (legal and IRS) and require Board approval. |
Endowed Scholarship Funds are invested in accordance with organization policy and income from the investments is used to fund scholarships. The original principal amount of the gift remains intact and continues to fund scholarships on an annual basis, subject to investment market conditions. All funds are managed by professional brokers under the guidance of the board's finance committee.
*** Endowed Scholarship may be funded by a one-time payment or over a period of years. We encourage donors to reach their goal within a five (5) year period of time.
NOTE: Each year the board determines the minimum scholarship award. In 2008 it was $600
Funds: The community is invited to demonstrate support for Dollars for Scholars through fund-raising activities. One of these activities is the annual community dinner held in January. Most scholarship funds come from contributions from individuals, families, businesses and service organization.
How can you help? Here are some ways you could contribute to the chapter:
Tax deductible: All gifts to the dollars for scholar’s chapter are tax deductible.
Contact a Lorraine Balske (507-235-3861) or any board member if you want to make a contribution to the Fairmont Dollars for Scholars Chapter, get more information about the chapter or become a board member so you can share your skills and ideas. The board meets monthly except July, August and December.