Start A Scholarship
A scholarship can change the life of an individual and, in doing so, it can change the life of a family. As a donor, you can help provide scholarship support by creating a scholarship endowment or scholarship fund.
An endowment stays with the Foundation in perpetuity because the principal stays intact. Only the earnings created by the principal can be spent. A fund is different because the principal donation can be used in its entirety, thus making a fund totally expendable.
The minimum amount to endow a scholarship is $20,000. For scholarship funds, there are no minimums contributions. The Foundation would prefer a lump sum payment in all situations; however, only endowments offer a pledge program with a maximum period of three (3) years.
An individual or organization may contribute directly to an endowment or fund at anytime. For example, another endowed scholarship can be created when the principal increases by $20,000.
Endowments and funds do require written agreements. This is ensure that the donor’s intent is carried out fully in years to come. All agreements are signed by the Donor, the Foundation President, and the Foundation’s Executive Director.
Administration fees are charged to endowments but not to funds. Endowments may be charged up to 2% of the endowment’s balance on an annual basis to help cover the cost of administration.
For more information on how you can set up a scholarship endowment or fund, please contact Margie Mazur, Executive Director at (850) 872-3812 / [email protected] or Lori Eldridge, Donor Relations Coordinator (850) 769-1551 x-6010 / [email protected].
FAQ Scholarship Set Up and Administration
How is the annual award amount determined? Each year the Foundation’s Board of Directors selects an award amount that will be given to each scholarship recipient.
When setting up an endowed scholarship, what are some of the options available to the Donor?
1. Selection Process: All of the Foundation scholarships have a selection criteria based on three (3) choices:
Committee Select – the Donor requests that the GCSC scholarship scoring committee select a deserving student.
Donor Select – The Donor will select the deserving student.
Faculty Select – The Donor requests that a GCSC faculty designee select a deserving student.
2. Minimum Grade Point Average (GPA): A Donor may want to select a deserving student who has a particular GPA (i.e. 3.5 or higher, 2.5 or higher). Currently all applicants and recipients must have a GPA of 2.0 or higher.
3. Required Residency: A Donor may select a recipient who lives in a particular area (i.e. Panama City, Lynn Haven, Port St. Joe, Bay County, Gulf County or no restrictions).
4. Major Preferences: A Donor may select a deserving student who is specializing in a particular area of study (i.e. Accounting, Engineering, Nursing or Fire Science).
5. High School: A Donor may select a recipient who is a graduate of a particular high school (i.e. Bay High, Franklin County, Port St. Joe, or A. Crawford Mosley).
6. Other Requirements: A Donor may add any other requirements to further enhance the scholarship (i.e. sophomores only, club or organization affiliations, single parents, military families, or employer/employee affiliations).
Endowed Scholarship List
Thanks to the generous support of our community donors, the Gulf Coast State College has over 300 endowed scholarships that produce approximately 700 scholarship opportunities.
If you would like to search and review our scholarship listing, please click here: Foundation Scholarship Listing.;