Best Of

Here are some of the topics we covered in our Compass Live session at #FoundantSummit2022!

Financial need scholarship:

• What % of the cost are you responsible for.
• Text for a recent change in need or difficult situation
• Family size
• EFC – College board might help – What number is the cutoff, just compare, 20k, 35k, 60k

Talking with donors about requiring too much and it becomes a barrier of entry to application for students. How do balance verification and trust?

• Provide opportunities for help with FASFA
• Alternatives

Do you allow applicants to defer their funds?

• Up to the admin
• Up to 1 year
• Goes back to the funder to get approval

Orientation for students

• Helps them connect, encourage them to stand up for themselves and reach out.

Letters of recommendations

• Some love them.
• Who do the students ask for those letters?
• Asking board and donor permission and talking with committee members.

Using text messaging to remind them of things.

• Send hub?

Do you do an alumni program?

Reverse scholarships more commonly called Place-based loan forgiveness programs. Scholarships that help pay back student loans bring students back to a geographical area. 

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It was a great conversation. Chime in with your thoughts and questions below!

At the Summit 2022, we had a great opportunity to have scholarship-based discussions with peers all over the country. I've tagged scholarship professionals who attended this year.

Do you have any topics you'd love to continue to chat with your peers about? Please add some ideas in the comments, or continue on one of the topics from our session below, so we can keep the momentum going!

@KristieAmos @JanetWhite @ErikaMyersBromwell @TammyKerch @AngelaYLee @KaylieMiller @BethHersh @StevenCoop @NataliaMuniz @PamelaProvo @FatimaPalermo @CassandraArnold @CarrieRobley @AmandaJamison @JuliaDaSilva @JennySchebler @KarriHarter @ErinStarnes @JessicaGreen @AustinKlososky @ErikaOrsulak

It was so great seeing you at SUMMIT!

-Alyse Braaten

Do your grant recipients struggle with their technology, connecting data, and collaborating across their organization? 

We are excited to announce the launch of Foundant’s newest solution, NonprofitCore, designed specifically for the unique needs of nonprofit charitable organizations, NonprofitCore enables nonprofits to manage their accounting, CRM, and fundraising in one easy-to-use, cloud-based solution. Organizations like those you fund will appreciate how NonprofitCore makes their work easier, freeing up more time to focus on their core missions.  

Please let us know if you know a nonprofit that might be interested in learning more about NonprofitCore. We'd also be interested in hearing any questions you may have about this new Foundant offering!

Recently, a question was raised re: a scholarship donor's legal/criminal history, which has caused us to wonder:

1. If any of you do some kind of background check into your donors before setting up a fund?
2. How much of the scholarship awardee student's personal information (if any) do you share with the donors of the scholarship?