Memorial Scholarship Fund
 

Ok GCer's, I really need your help on this one....Although long overdue, my chapter is going to start a memorial scholarship fund for a sister that left us too soon.

My questions is: How does one go about establishing a scholarship fund? If anyone here has done so, tell me about your experiences. If there are other threads about this, direct me to them. Know a source, tell me about it!
Thanks in advance for all of your help :)

I would talk to your national foundation. You may be able to set it up through them, thus saving lots of paper work and such.

If you are doing it as an endowment, you'll need to make sure that the principle (is that the right word...?) is large enough to yeild enough interest. Other wise, if you just give out the money, you'll need to make sure that you have continued giving.

I would talk to your national foundation, they'd probably be the easiest way to do it.
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Or the financial aid and scholarship office at your university.

We did ours through the University's Educational Foundation. It was pretty simple and we didn't have to deal with the tax implications, etc. For an endowed scholarship (one that gives out a small award every year) we had to put in $10,000 and that shuffles out nearly $300 a year for a student and will remain almost indefinately.