— How much does it cost to get started?
You can establish a scholarship fund with a minimum donation of $2,000. The fund is not endowed until it reaches $10,000. Anyone can donate funds in their name. Over time, you can make additional donations toward your fund.
— When can we issue our first award?
Once the fund balance reaches $10,000, the Foundation will match that balance with an additional $2,000. You may name the scholarship/grant and award the first scholarship under the Foundation’s annual scholarship cycle according to the GEDF Restricted Fund Policy. Scholarships are paid from the interest generated on the $12,000 balance.
— How do we establish the award criteria?
The Foundation will assist you in developing your award criteria by offering you a questionnaire. You will need to determine the following:
• Name of the award.
• Amount of the annual award.
• For a scholarship – type of degree program, level of student (GPA or Specific Major/Minor) and any restrictions (geographical, gender, diversity or university-based)
— Who determines the award winners?
The Foundation has a Scholarship/Grant Selection Committee chaired by a member of the GEDF Board. The committee consists of ten volunteers, who have worked in some educational capacity. Their charge is to review each application and rank applicants accordingly.