About ACC: ACC Foundation: Establishing a Scholarship

HOW TO ESTABLISH A SCHOLARSHIP AT ACC

A college education is a dream for many and an accomplishment for too few. At ACC, we try to make that dream possible by providing quality education at an affordable price. We also offer opportunities for financial aid and distribute a large number of scholarships each year to qualified students.

Some of these scholarships are based on financial need, some on academic performance, and some are given to students who meet other special criteria. These scholarships have been created by individuals, service clubs, corporations, and foundations and are an important part of the mission of the ACC Foundation because they help change lives, build futures, and provide the gift of education.

ACC Foundation Scholarship Fund
The ACC Foundation Scholarship Fund provides a variety of scholarships to traditional and non-traditional students (those who have been out of high school for at least five years). Some scholarships are awarded based on academic achievement, some on demonstrated leadership abilities, and some on financial need. You can help make these scholarships possible by donating in several ways:

• A cash gift or gift of stock or securities directly to the ACC Foundation.
   
• Participation in the Alumni Walk. You can purchase a brick paver for $50 and have it engraved with a name, date, or other important information in memory or honor of someone special to you. Pavers are placed along the Alumni Walk, which is located at the library entrance of the Center building.
   
• Participation in the annual Scramble for Scholarships golf outing.
   
• A five-year annual commitment through The Advancement Alliance giving society.

Pass-through Scholarships
The pass-through scholarship is an annual gift to the ACC Foundation that passes through to the selected recipient’s student account. The scholarship is typically at least a $250 award, and you can name the scholarship and establish the selection criteria. The scholarship is administered by the ACC Foundation, and the ACC Scholarship Committee chooses the student recipient. A fund agreement outlining the details of the scholarship is provided to insure that all parties are clear on how your gift is to be directed.

Endowed Scholarships
An endowed scholarship is a long-lasting opportunity to honor or memorialize someone important to you. Your gift is invested, and a percentage of the interest earned is used for the purpose of the scholarship(s). The larger the endowment fund, the greater the number and amount of the scholarship awards. The minimum to establish an endowed scholarship is $10,000, which can be gifted over a one to five year period.

Similar to the pass-through scholarship, you can name the endowed scholarship and determine the selection criteria and the size of the award. The ACC Foundation administers the scholarship, and the ACC Scholarship Committee chooses the student recipient(s). A fund agreement outlining these details is provided.

A Fitting Tribute
Gifts can be given to the ACC Foundation to establish a scholarship in memory or honor of a special occasion or a beloved family member or friend.

Ways to Give
There are many ways you can fund a scholarship at ACC. You can donate cash, stocks or securities, personal or real property, trusts, life insurance policies, or make arrangements for a scholarship through various methods in your estate plans.

A Simple Process
The process for establishing a scholarship at ACC involves just a few simple steps:

1. Determine the amount of money you’d like to donate.
2. Contact the Executive Director of the ACC Foundation to discuss the type of scholarship to be established.
3. Once the type of scholarship is determined, we help you decide on the number and amount of the scholarship(s) awarded each year.
4. During this discussion, we also help you determine the criteria for the scholarship. For example, you may decide that a recipient of your scholarship must be enrolled in a specific program, maintain a minimum grade point average, demonstrate financial need, or have graduated from a particular high school. The criteria that are set should not be too restrictive, but it can reflect those areas you care most about.
5. A scholarship fund agreement is drafted outlining the type, number, dollar amount, and criteria for your scholarship. All you need to do is sign this form and return it with your donation to the ACC Foundation. If you choose a pass-through scholarship, we can arrange for you to receive annual or bi-annual reminders.

Once a scholarship is established, it is included in our annual list of scholarships which is featured in various publications throughout the year. Scholarship awards are distributed at the start of the academic school year, and you have a chance to meet the recipient(s) of your scholarship at our annual scholarship reception held each spring.

By establishing or contributing to a scholarship fund at ACC, you can take pride in knowing you are providing the gift of education.