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Change in Scholarship Criteria Due to Company Merger
We manage a scholarship fund that benefits children and grandchildren of a company that recently merged and no longer exists as the entity identified in the fund agreement. Additionally, the newly-formed company announced the closure of the main facility, which will significantly narrow the applicant pool if the original criteria are maintained. Does anyone have experience navigating this type of situation? Did you continue to make awards for employees' relatives of the original company for a set period of time?
Your Community Foundation of North Central West Virginia, Inc.