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Re: Scholarship Room & Board/Potentially Taxable Expenses
Thank you, Stephanie! Very helpful. Would you consider sharing the pay to student form? If so and if you prefer, my email is loritrenholm@dccfoundation.org.
Scholarship Room & Board/Potentially Taxable Expenses
Hi everyone,
We have a new scholarship in which the donors want the scholarship to have the option of the student being allowed to use funds for room and board; specifically, assistance with off campus apartment rent or living expenses. All our scholarship payments are made to the student's tuition account at his/her school and are nontaxable. Do any of you have experience on potentially taxable scholarships? If so, how do you manage them? Thanks in advance for any guidance!
Re: Scholarship Room & Board/Potentially Taxable Expenses
Hello @loritrenholm!
For students who are receiving scholarship money directly, we have them sign a "pay to student" form. In the form, we have a paragraph to inform them that if money is being used for non-educational purposes (i.e. tuition, books, materials, school fees, etc.), they must complete a w-9 and will receive a 1099-misc after the end of the calendar year. For many of our students, their income isn't enough to impact, but we still inform them of the possibility of taxes.
I hope this helps...
Re: Community Indicator Reports
Outside of our Community Reports, we haven't put together a hard copy community indicator report, but we have put a Delaware County Health and Opportunity Equity Indicator on our website. It's an interactive map that helps layout things like education levels, obesity, asthma, with/without health insurance, etc in the county by zip codes. You can find our map here:
If you click on the orange button in the corner that says "new map", you can toggle between different indicators.
Hope this helps!
Monika
Re: Scholarship Agreement
Keith, This is very helpful. I was just attempting to see what others use as far as terms and conditions for the students. I appreciate the information.
Lisa
