Valley Community Foundation Awards more than $175,000 from Scholarship Funds
to Support Educational Pursuits of Local Students
DERBY, CT (September 4, 2019) With the 2019-2020 school year starting, the Valley Community Foundation (VCF) is pleased to announce that it has awarded more than $175,000 from more than 60 scholarship funds to students pursuing higher education. While many of these students are entering their first year of higher education this fall, some awards provide renewable tuition assistance for up to four years.
"For many Valley residents, establishing a scholarship not only pays tribute to their family but it can also memorialize their name at a local high school," said Sharon Closius, VCF President & CEO. "Whether it's participation on a sports team, the longevity of family history, or memorializing lifetime friendships that were made, establishing a scholarship to benefit local high schools is an investment in our community's future and reflects the value of higher education."
Civic organizations, such as Rotary Clubs, and local businesses have a tradition of providing annual scholarships to Valley high schools, and now more individuals and families are helping to create a pool of permanent scholarship funds. With endowed scholarships, the schools know they will have money each year to support the academic endeavors of their graduating seniors.
For years VCF has worked with the Valley's high schools to manage and administer scholarship funds. Rather than a high school holding the scholarship money in a CD or savings account, scholarships are established, managed, and invested with VCF. The high school continues to select the recipients of various scholarships, but the staff saves time and money by not administering individual savings accounts. Additionally, the money is invested in a large investment pool that has historically yielded a better return, which increases the size of the fund and the distributable amount over time.
Donors can simply select eligibility requirements for the scholarship based on a student's field of study, academic achievements, extracurricular activities, financial need, background, or geography. Some scholarships give a single award to support a graduating senior pursuing higher education while others can be renewable through college.
If you are interested in establishing a scholarship fund, contact Sharon Closius, Valley Community Foundation President & CEO, for more information at 203-751-9162 or valleyfoundtion.org/howtosetupafund.
About The Valley Community Foundation
Established in 2004, the Valley Community Foundation distributes approximately $1.6 million in grants each year to support the local nonprofit sector and the people it serves. In addition to grantmaking, VCF works in strong partnership with The Community Foundation for Greater New Haven (TCF), to promote philanthropy in Ansonia, Derby, Oxford, Seymour and Shelton and receives funding from The Gates Fund and other preference funds at TCF that benefit the Valley.
