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Award Fund vs. Scholarship

We have a potential donor who wants to create an Award Fund rather than a Scholarship Fund which looks to have different tax implications. Does anyone use Foundant to process award funds and if so, can you shed some light on how the administration of one might be different than a Scholarship?

Best Answer

  • CarolReynoldsCarolReynolds
    Groundbreaker User Group Meet-Ups 5 Answers
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    Accepted Answer

    We treat our awards like scholarships without an application in SLM. Basically, we create a bare-bones application, enter the student into SLM, if they aren't already, and then proxie in as them to submit it. From then on, we just push it through like any other scholarship except without an evaluation stage. Does that make sense?

    LauraPayne

Answers

  • CarolReynoldsCarolReynolds
    Groundbreaker User Group Meet-Ups 5 Answers
    ✭✭✭
    Accepted Answer

    We treat our awards like scholarships without an application in SLM. Basically, we create a bare-bones application, enter the student into SLM, if they aren't already, and then proxie in as them to submit it. From then on, we just push it through like any other scholarship except without an evaluation stage. Does that make sense?

    LauraPayne
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