How can you help clients who want to provide strategic scholarship aid to students?
Professional advisors are in a unique position to not only help their clients find ways of creating the greatest impact for their philanthropic needs, but they also have the power to promote profound change in the region. By encouraging interested clients to create scholarships at the St. Louis Community Foundation, advisors are aiding them in providing deserving students with the resources to achieve educational and professional goals and succeed to their full potential.
For several years, the St. Louis Community Foundation has administered scholarship funds for donors, and was one of the seed organizations that helped kick start St. Louis Graduates, which works to make the post-secondary education system more equitable, so all students can benefit from education beyond high school. The Community Foundation currently administers over 60 scholarship programs that have impacted hundreds of students in the St. Louis region. In 2019, $1.6 million in scholarship dollars were awarded to 688 students in the region.
If advisors has a client is interested in providing scholarship aid, the St. Louis Community Foundation will work with them to determine their unique area of interest. This could be support for students at a specific high school, a scholarship made in memory of a teacher or coach or for a certain geographic region or area of study.
The Community Foundation works with donors to establish the unique parameters of their scholarship. This can include determining eligibility requirements or creating a customized selection process. Scholarship programs can be a perpetual resource through an endowment or a temporary resource for a specified time period. The Foundation oversees the assets of the scholarship fund, report on growth, assist in selecting students who will receive funding and produce an annual report for review.
Interested in learning more about scholarships or opening a scholarship fund? Please contact a member of our Giving Strategies team at givingstrategies@stlgives.org
