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[quote=Anonymous]You are asking some very good questions.

I serve on the boards of 3 different family foundations and each of the 3 has some level of interest in supporting education topics.  All 3 offer scholarships.  2 have endowed scholarship funds at specific institutions and we worked with the institutions to develop the scope and parameters for the scholarships.  1 has a hybrid model with some endowed scholarships at a few different institutions but we also have scholarships that we award directly to recipients (paid to the institution only!!!) and the awards are unaligned with any specific education institution.

While the endowed scholarships were front-heavy on work, they offer us the assurance that the process is equitable and fair.  The independent scholarship process was virtually no work ahead of time but it is quite a bit of work to administer and we have paid staff to manage it.  There are a lot of "I"s to dot and "T's to cross to ensure that the process is open, fair and nondiscriminatory.  And we learned the hard way that there need to be safeguards in place to ensure that the money we award is spent according to the intent it was distributed.

Do you belong to any organizations that work with family foundations?  The Council on Foundations has recourses for foundations and it my understanding that it even has group that has a list serve / message board on the topic of scholarships.  Additionally I know there is a National Center for Family Philanthropy and BoardSource may be a big help to you with resources, especially their bookstore.  You also may want to see if any of them have some local conferences where you could network with other family foundations on topics of mutual interest.

I hope this information is helpful.  Post back if you have questions.  I think you are getting a lot of good input from others!  Good luck![/quote]

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