How does the Endowment Fund Work?      

An endowment fund works on a simple concept. The original contribution is invested in an interest bearing account. Each year the income generated by that account is awarded as scholarships. All of our funds are co-mingled for investment purposes. Each separate personal endowment fund as well as the open endowment fund is assigned their share of the income generated. See 'Our Investments' for further information on our investment policy.

 

     Where does the money go?      

Scholarships are created based on the donation type. We have several options available for donors to choose from:

ANY TIME DONATIONS TO AN OPEN ENDOWMENT FUND  You may make donations to any fund at any time. See 'Our Funds' page for a detailed listing.

PERSONAL ENDOWMENT FUND  This type must be started with an amount large enough to fund at least one scholarship yearly with a minimum of $2,500. The donor will have the opportunity to designate the name, field of study, and other criteria for the award. You may not designate the student who will receive the award.

ONE-TIME SCHOLARSHIP MEMORIAL  Funds which are donated in memory of a loved one in amounts of $100 or more and there is no intention of establishing a permanent fund, will be awarded at the following spring graduation as a one-time scholarship. The donor must request this type of donation in a timely manner, generally by April 1.

These scholarships are a popular type issued by individuals, clubs, organizations and businesses. You may arrange to have an annual "Pass-Through" scholarship given each year. This type allows you to give a set amount each year and the foundation simply passes the funds through to a graduate of BGM. You may not designate the student who will receive the award.

PERMANENT NAMED SCHOLARSHIP A permanent scholarship may be established to perpetuate the memory of a loved one in a way which would provide a scholarship award each year to a deserving BGM student in the name of the loved one. A donation of at least $5,000 is required to establish this type of scholarship. You do not need to donate the entire $5,000 at one time; however, no scholarship will be awarded until the account reaches $5,000.

 

     How can I get a fund started?      

Contact a Board of Trustee of the CSF of B-G-M Dollars for Scholars. Our board members are listed on the About Us page.

An agreement will be drawn up between the donor and the CSF of B-G-M Dollars for Scholars. We will also allow additional funds to be added to the fund at any time in the future.