Guidelines For Establishing A Grant Or Scholarship Fund
- The donor establishing a scholarship or tuition grant (endowed, quasi-endowed, and expendable) informs the Badin advancement staff of the intent to fund a scholarship/grant, the title/name by which it is to be known, and any reasonable restrictions regarding the recipient(s). All restrictions must be consistent with the mission and policies of Badin High School.
- The donor and Badin High School execute a Restricted Fund Agreement.
- Upon completion of the Restricted Fund Agreement form, the donor transmits to the high school cash/check, securities, etc. which are intended to 1) form the principal to establish an endowed scholarship/grant, or 2) cover the cost of a full or partial expendable scholarship/grant. Badin High School becomes the sole proprietor of these funds.
- The recommended level to establish a named endowed scholarship or grant fund is $10,000. Endowed funds may also be established at lower levels based on the goals of the fund. The donor may, at any time, increase the principal of the fund by making additional gifts to the fund.
- Unless otherwise agreed upon by the donor and the high school, the school’s finance director places endowed funds in a scholarship/grant fund that is administered according to the investment policies of the Archdiocese of Cincinnati. This endowed scholarship/grant is invested in a variety of instruments to generate income. Only income generated by the endowed scholarship/grant’s principal is disbursed as scholarship or tuition grant awards. Endowed funds are permanent and the principal is to remain intact. Only in the case of quasi-endowed funds can the principal be disbursed. The rate of return may vary depending upon prevailing conditions affecting the investments of the endowed scholarship/grant fund.
In the case of an expendable scholarship, the finance director places the contribution in the general scholarship/tuition grant reserve, and the funds are totally exhausted, as agreed upon by the donor and the school.
- The school’s scholarship and grants committee administers all merit scholarships and tuition grant awards according to established criteria.
Our Commitment to You
Your investment in our students enables us to fulfill our mission to inspire young men and women to achieve their personal best, live their faith and lead the future. We simply could not do this without your financial support. Badin High School is committed to being faithful stewards of your financial gift. As our partner in educating the fine young men and women of Badin High School, you have the right to know how your wishes are being carried out. This is our pledge to you…
Badin High School will:
- Distribute and review scholarship and tuition grant applications, and financial aid applications per the stipulations agreed upon with the donor/family and based on school policies.
- Select scholarship and grant recipients by committee structure.
- Administer gift acknowledgements to the donor and facilitate thank you notes from student awardees to the donor/family.
- Invite the donor to our annual scholarship breakfast.
- At the request of the donor, provide an annual accounting of endowment funds.