Start a Scholarship Fund

It's easy to be a part of changing someone's life for the better. By starting a permanent scholarship fund with us (e.g. the Jane M. Doe Scholarship Fund) you can help people for generations to come attend college and honor a loved one by naming the fund for them.

Here are a few simple steps to get you started:

1. Talk with us and share your ideas for helping others achieve their educational goals. You also should talk with your attorney, accountant or other professional advisor.

2. If a scholarship fund is right for you then you will need to decide whether to make a current gift with assets you have today or use your will for a bequest or other future gift.

3. You will also need to decide the criteria for scholarships recipients. Perhaps it is the college they will attend or a certain field of study. We can help you select criteria that works well.

4. Complete a Charitable Gift Agreement.

5. Make an irrevocable gift of at least $25,000 or arrange for a future gift through a bequest or other estate plan.

6. When we receive your gift to start the fund, we will sign the gift form and return a copy to you along with an acknowledgement letter that will serve as your official receipt. Please retain this letter for your tax records. (Note: Regardless of the number of distributions from your fund, you need only this one letter for tax purposes.)

7. We will be happy to let you know the names of students who receive scholarships from your fund or to arrange for you to meet them in person.

For questions contact Nan Edgerton, vice president of development, at (757) 622-7951 or via email at nedgerton@hamptonroadscf.org.

To learn about other types of charitable funds click here.