Fund, administered by the Bolton Scholarship Fund,
offers a way to remember a loved one through the awarding of annual scholarships in his/her name. Donations, which are tax deductible,
are always acknowledged by the Scholarship Committee which also
provides the family with a list of names of donors who have contributed
to the fund. Individuals, families, businesses and civic organizations
all may choose to establish a fund. It should be understood that the basic intent of establishing
a fund is to increase the principal by regular additional contributions
so that it will eventually become self-sustaining.
A minimum initial amount of $500 is required to establish a fund;
additional contributions in any amount may be made at any time throughout
the year. The treasurer of the scholarship fund will provide biannual
reports on the status of each fund. The minimum annual scholarship
award from a fund will be $300. This amount may be realized each
year in a number of ways:
1. From yearly interest on the principal
2. From interest on the principal plus an additional contribution
3. From interest on the principal plus funds drawn from the principal
to make up the difference
The alternative to an ongoing fund is an Annual Named
or Memorial Scholarship which may be a one time
award or continue year to year with an annual contribution of $300
All donors of Named and Memorial Scholarships will be contacted
by the BSF president before the annual awards are made in order
to reconcile any questions.
While the committee realizes that donors may want to establish
criteria for the scholarships they provide, we ask that any such
directives be general in nature. If criteria are too specific, there
may not be a candidate in the applicant pool who meets the requirements.
Donors may offer suggestions and/or alternatives to make it possible
for the committee to choose an appropriate recipient.
If you are interested in establishing a fund or would like more
information, please contact us.
We are happy to answer any of your questions.