St. Cloud Technical College

Thank you for your interest in establishing a scholarship award with the SCTC Foundation. The Foundation welcomes two kinds o f awards: Endowed and Flow-Through.

Endowed Scholarships Awards
When an individual or organization establishes an endowed scholarship award, the gift is set aside as principal to be investe d in perpetuity. Only the income from the principal is distributed as scholarship awards. Endowed scholarships must be established with a minimum gift of $11,000. The larger the endowed scholarship fund, the greater number of scholarships the Foundation can awa rd. A 10% administrative fee is assessed on payments to the fund, and a 2% management fee is assessed annually on the endowment fun d balance. The Foundation encourages the establishment of endowed scholarships. For individuals, it's a lasting tribute in honor o r memory of loved ones. For organizations, it's an opportunity to provide continuous support for students at St. Cloud Technical Co llege.

Flow-Through Scholarship Award
Flow-Through awards are established as short-term or one-time gifts. When a donor establishes a flow-through scholarship, the gift, less a 10% administrative fee, is awarded to students. Flow-through scholarship awards can be established with a minimum gif t of $550. When donors make annual flow-through scholarship gifts, we encourage them to consider establishing an endowment. Often donors ask that part of their annual gift flow-through to students as a scholarship and a portion be set aside to build an endowmen t.

Establishing Criteria
The SCTC Foundation Scholarship Award Committee selects student recipients based on the following criteria: commitment/intere st in program, extracurricular activities/community service, educational background, and application effort. Other criteria can be included at the donor's request.

Financial Management
The Board of Directors of the SCTC Foundation supervises all the Foundation's funds. The Foundation's books are audited annua lly and a copy of the latest audit is available upon request. The endowed funds are managed by the Central Minnesota Community Foun dation. Their view piece is also available upon request.

To make a tax-deductible pledge to the SCTC Foundation, simply fill out and mail a pledge card.