Create a Scholarship
Benefits of Scholarships
Scholarships help students
- That have no other way of paying for tuition.
- Reduce the number of hours they must work while they are in school.
- Reduce the loan debt they incur, giving them a better financial situation once they are out of school.
- Gain the motivation and confidence to do their very best.
-Chad Johns, William V. and Virginia S. Hannah Scholarship and Les and Janice Wolf Scholarship recipient
Need for Scholarships
- State and federal financial aid does not keep up with rising tuition rates.
- Many students who do not qualify for financial aid cannot afford to attend college without a scholarship.
- Current Foundation scholarship opportunities support just two percent of the Clark College student body.
-Katherine Albert, Edmonds Scholarship recipient
Life has options, and so do scholarships. Donors-individuals, couples, groups, organizations, and businesses-come with a variety of wishes and intentions. The Clark College Foundation provides the guidance, venues, and support to assure that each gift is appropriately used to meet the donor's objectives.
Read below to learn about the most common options for creating a new scholarship to benefit Clark College students. Gifts of any amount may be added to an existing scholarship.
Scholarship Endowment Program
This option makes it possible for a donor to create an ongoing scholarship support base. It requires a minimum of $25,000 to establish and can be created over a period of up to three years. The fund may be added to at any time at the discretion of the donor, and the donor determines selection criteria for award of scholarships funded through the program.
The first income distribution from the fund shall be made one full investment year following the fund balance reaching a minimum of $25,000, unless otherwise specified in the donor agreement. Distributions will fund annual scholarships according to the criteria outlined by the donor in the donor agreement.
Investment of the endowment principal shall be consistent with the Clark College Foundation's Investment Policy and disbursement shall be consistent with the Foundation's Spending Policy. The principal of the fund remains intact, continuing to grow and generate greater income. A portion of the available annual investment income rolls back into the principal base and a portion of the available income is awarded as scholarships.
Annual Scholarship Program
The annual scholarship program is distinguished by donor commitment to provide ongoing annual scholarship support. The fund may be added to at any time at the discretion of the donor, and the donor determines selection criteria for award of scholarships funded through the program. A minimum annual contribution of $500 is required.
Scholarships are awarded each year according to the donor's wishes and may fund one or more students. At the donor's discretion, the amount of support and number of awards may vary from one year to the next.
Annual scholarship programs do not earn income.
Limited-duration Scholarship Program
A limited-duration scholarship program provides scholarship support for a specified period of time and is typically funded through a lump-sum contribution. The fund, which may be added to at the donor's discretion, requires a minimum contribution of $500. The donor determines selection criteria for award of scholarships funded through the program.
The principal of the fund is distributed according to the wishes of the donor over a specified period of time (e.g., the money can all be awarded within the year the gift is made, it can be equally divided and awarded by the number of years specified, etc.). A minimum annual distribution of $500 is required.
Limited-duration scholarship programs do not earn income.