Scholarship Guidelines
Guidelines
- Gifts made to an endowment are invested in perpetuity to generate earnings to support the purposes of the endowment. The gifts(s) form the principal of the endowment. The principal is never spent without specific authorization from the donor; the scholarships are provided by the earnings from the principal.
- The principal should be vested for an entire year before the first scholarship awards would be made.
- Endowments are invested by the Beatrice Educational Foundation.
- Distributions are generally made from endowment earnings.
- Scholarships are awarded annually at the Beatrice Public Schools spring awards ceremony. Donors may restrict awards on the basis of need or merit. Criteria determined by the donor in consultation with the Beatrice
- Educational Foundation can give preference to students seeking particular careers, participating in certain activities, and hold a particular grade point average.
- Unless otherwise specified by the donor, scholarships are not paid out until after the scholarship winner has completed the first semester or quarter in an accredited college or university, and a transcript of grades is received by the Beatrice Educational Foundation. If the scholarship award recipient fails to enroll in an accredited college or university OR if the student does not complete the semester or quarter, an alternate award recipient will be selected by the Scholarship and Awards Committee.
Prohibitions
- The donor may not name scholarship recipients. The donor will be kept fully informed of who is selected as the recipient.
- The donor cannot serve on the selection committee.
- Criteria may not compromise the Beatrice Educational Foundation’s tax-exempt status or accreditation or violate the law.