How to set up a scholarship fund for a nonprofit with success
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You can contact the development office at a university or work with a community foundation to set up a scholarship fund. However, be aware that large donations may be subject to a gift tax. With successful endowments, the principal funds are never touched.
Be sure to consult your professional tax advisor.
Decide how to promote your. However, this type of scholarship does not carry any tax exemptions. Once a nonprofit elects to provide a scholarship, it sets up a scholarship committee. Decide how to promote your.