Reply to Advice for Scholarships to Give

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[quote=Anonymous]I am on the board of a family foundation that is being funded to give smaller donations to various other charitable organizations. We want to pivot and focus primarily on higher education or some other educational need. Is there something that is most needed in education funding and resources?  One thought is to give college scholarships in support of a specific "mission".  We also want to use our platform to share information and access on to other resources related to this focus..

There are currently scholarships and organizations with eligibility based on Financial Need, Women in STEM, Minorities in Higher Education, Women in Business, Community Service, Merit-based, etc. We can focus on these or anything else -  those that want to make a change? those with high standardized scores? those with musical talent? kids from a specific geographic area? (We are in VA but have ties to NC, SC, and GA.)

If we have $20k to distribute per year, what is a meaningful scholarship amount? Is it best to give two $10k scholarships or a $1000 scholarship to 20 people? One thought is that there are already resources for students that are lower income. If someone qualified for a larger government or institutional grant received our smaller donation, it would just diminish the amount of the the larger grant and not really help....  that the most benefit would be to someone  more in the "donut hole" income category.  However, any scholarship would be given to school in the name of the individuals, not to the students directly (so would help with college expenses and not be for personal use.)

Summary:
I would just love some general advice for how to allocate funds of our family foundation. Our current passion is higher education, but we want it to be more narrowly focused. We are very fortunate to have the resources to share and want to make a meaningful impact to a few students. [/quote]

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