Webinars for Wise Nonprofits: Creating Scholarship Programs: Legally Structuring a Lasting Educational Impact
In challenging times, the dollars provided by a scholarship can make all the difference in a young person's life. Scholarships are an excellent way for nonprofits to support educational achievement in connection with their charitable purposes. Some nonprofits are established with the intention of managing a scholarship program, while other nonprofits develop a scholarship program after operating for several years as a natural extension of other program offerings. This webinar, designed for newly forming and existing public charities, will provide an overview of IRS rules and best practices to establish and administer a scholarship program, including the selection criteria for recipients, selecting a scholarship review committee, distributing funds, monitoring the use of funds and proper documentation, and a brief discussion of tax implications for both the recipient and the public charity.
This webinar is designed specifically for public charities (not private foundations) and will not address applicable rules for donor-advised funds.
Learning Objectives: Participants will understand the basics and best practices for structuring and administering a scholarship program.
For nonprofit managers and Board members of public charities considering the creation of a scholarship program.
Presenter: Ciarra Chavarria, Senior Staff Attorney