Scholarship Donation Agreement

When creating a scholarship fund, the donor makes detailed written criteria for the selection of fellows and all conditions for scholarships available to the Foundation. Foundation, donor or Committee staff may recommend changes to the scholarship criteria to update the scholarship with current practices and the market for eligible applicants, but these changes must be approved by the Foundation`s Board of Directors. This agreement will be reached that day between the funder and the Rosebud scholarship fund. However, no minimum amount is required to create a foundation scholarship fund if the value of the foundation scholarship fund does not reach at least $10,000 within three years of the Fund`s creation, or if the value remains below $10,000 for three consecutive years, the Foundation may transfer the Fund to its general scholarship fund or distribute the remaining resources to meet the Fund`s objective. If the donor chooses the aforementioned non-end option of the Non-End Chocolate Fund, the amount to be distributed, including all administrative costs, and all guaranteed extensions for future years of the Foundation should be required to pay by December 31 of the year prior to the awarding of the scholarships. As a result of the resignation, inability to work or on page 3 of the donor`s death and after any will contributions to the Fund are registered, any scholarship fund not with a balance of $10,000 or more becomes a foundation scholarship fund. The fund`s objective is to provide scholarships to lakota youth. Detailed eligibility criteria for the selection of fellows and the listing of all scholarship requirements will be established by December 31, 2019. When awarding the Fund`s grants, the Foundation follows these criteria and conditions. A scholarship committee (committee) advises the Foundation in the awarding of the Fund`s grants. However, these recommendations are only advisory and the Foundation is not bound by such recommendations.

The committee is made up of at least three people, all appointed by the Foundation. The donor may make recommendations on the composition of the committee, but these recommendations are only advisory and the Foundation is not bound by these recommendations. The donor may be able to do so, but under no circumstances does the donor or associated parties constitute the majority of the committee. Committee members remain on this committee until their respective successors are appointed or until they die, resign or be removed. Members of the original or successor committee, including the status of a committee member`s relationship with the donor, are submitted in writing to the Foundation and approved by the granting committee prior to the scheduled committee meeting. Each year, the Foundation will send a letter to the donor asking the members of the relevant committee to ask if the donor wishes to recommend members who will succeed him. When awarding scholarships from a scholarship fund, the Foundation will meet the criteria and conditions set by the donor and will take into account the Recommendations of the Committee.

Comments are closed.