Providing donors and organizations the ability to create scholarship funds for area youth has been a Foundation priority from the beginning.

Scholarships at the Foundation can be as broad or as specific as a donor wishes. The Foundation works closely with each donor to fulfill the donor’s philanthropic desires.

How to create a scholarship fund

The San Angelo Area Foundation makes it easy to create a scholarship fund. Donors need to consider:

• What do I want to name the fund?
• Do I want the fund to last in perpetuity (endowed)?
• Do I want to target a particular field of study?• Do I care what college the student desires to attend?
• Do I care which high school the student attends?

Many donors who desire to establish a fund can easily do so by contacting the Foundation and working with the staff to answer the questions above and more. The Foundation then prepares an agreement, and the Fund is created. There is no need to establish a separate entity or trust account to handle this type of fund. Donations to Funds at the Foundation are considered charitable and are fully deductible from federal income tax. (Be sure to consult your professional tax advisor.)

For a limited time and under certain circumstances, the Foundation has matching funds up to $20,000 for new scholarships funds, thanks to a grant from the San Angelo Health Foundation. Please contact the Foundation office to find out more about creating a fund which doubles in size on the first day.

How to apply for a scholarship

The Foundation accepts scholarship applications until March 15th of each year, announces awards in May, and makes payments in the fall and the spring.

Scholarship application forms may be downloaded from the Foundation’s web site at www.saafound.org, or you can request one to be mailed to you by calling the Foundation office.

Students only need to apply once; students are considered for all scholarships for which they qualify.