Background
The DCCCD Foundation is classified by the Internal Revenue Service as a 501(c)3 organization. Contributions are deductible for tax purposes. It is governed by a board of local business and civic leaders who are dedicated to building a stronger Dallas area economy through a resourceful community college system. The DCCCD Foundation offers endowed and non-endowed scholarship funds for students attending the DCC Colleges to increase access to a quality college education. These scholarships are established and funded through the generosity of individuals, corporations, foundations, professional associations and community groups.

Listed below are DCCCD Foundation scholarship definitions and guidelines as of January 1, 2005. For more information on how to establish or contribute to a scholarship click here or call us at 214.860.2149.

What is a Scholarship?
A scholarship is considered a grant-in-aid to a student. Generally, scholarships and fellowships are reserved for students with donor specified eligibility qualifications such as academic or artistic talent. Scholarship awards are also available for students who are interested in particular fields of study, or who demonstrate financial need. A scholarship may be either endowed or non-endowed.

Endowed and Non-Endowed Scholarships

What is an Endowed Scholarship?
Endowed scholarships provide perpetual income to a donor-designated cause. Generally, endowments are set up so that the principal contribution may be increased from time to time through additional donations. The principal contribution of an endowment is included in the investment portfolio of the Foundation. Interest and dividends earned, and gains/losses on the sale of assets from the portfolio are allocated to each endowed scholarship. These allocations are made available to award scholarships. The advantage of an endowment is the principal is perpetually available to earn revenue to award scholarships to deserving students. Depending on the debt and equity markets and interest rates, the disadvantage of establishing an endowment is it could take some time to earn enough to award scholarships or fund it’s designated cause.

Establishing an Endowed Scholarship (Endowment)

• As of January 1, 2005 a minimum gift of $25,000 is needed to set up an endowment before the fund can be established. When established it is included in the Foundation investment portfolio and is eligible to share in the allocation of investment returns.
• Current and retired DCCCD employees may take up to five years to complete the funding of an endowment. If the minimum funding requirements are not met within five years the donor/contact person for the endowment will be notified that the funds contributed to-date will be transferred into the general scholarship fund of the donor designated DCC College or the Universal Scholars Program Fund in the Foundation if no college has been designated.
• Donors not employed by or retired from the DCCCD must contribute an initial gift of at least $25,000 before funds can be accepted to establish an endowment.
• Endowments are considered established and active when the minimum funding requirement has been met and scholarship award criteria have been received in the Foundation.

What is a Non-Endowed Scholarship?
Non-endowed scholarships are made available through donor contributions. These funds are not invested with the Foundation portfolio but are used to make awards when they are received. The advantage is students receive immediate benefit from the contributions. The awards are not dependent on Foundation portfolio earnings allocations. The disadvantage is that without continuous contributions the funds in the scholarship will become depleted at some future date.

Establishing a Non-Endowed Scholarship

• As of January 1, 2005, a minimum gift of $1,000 is required to establish a scholarship fund.
• Current and retired DCCCD employees may take up to one year to complete the funding of a scholarship. If the minimum funding requirements are not met within one year the donor/contact person for the scholarship will be notified that the funds contributed to-date will be transferred into the general scholarship fund of the donor designated DCC College or the Universal Scholars Program Fund in the Foundation if no college has been designated.
• Donors not employed by or retired from DCCCD must contribute an initial gift of at least $1,000 before funds can be accepted to establish the scholarship.
• Non-endowed scholarships are considered established and active when the minimum gift requirement has been met and scholarship award criteria have been received in the Foundation.

Non-endowed Scholarship Inactivity
Once established a non-endowed scholarship fund is considered inactive when the fund balance is less than $250 and the fund has been inactive(no scholarships awarded) for one year. A fund analysis is done in May of each year. The DCCCD Foundation will notify the donor of fund inactivity and inform them of their options. Notification will be sent to the donors last known address by certified mail. The donor must contact the Foundation within 90 days of the date of their notification letter specifying the option they choose. If the donor does not contact the Foundation, remaining scholarship funds will be disbursed in accordance with Foundation policy.

The Donors options are:
Option 1: The donor can maintain the fund account by bringing it up to $1,000 and make scholarship awards. After the ninety-day response period, the donor will have an additional nine months to make the fund active through contributions and awarding of funds.
Option 2:Give the DCCCD Foundation permission to disburse the funds based on Foundation policy for disposition of inactive funds.

Disposition of Inactive Funds
If the donor does not contact the Foundation and/or bring the scholarship fund balance up to $1,000 and make awards, the balance of the funds will be disbursed (transferred) into the general scholarship fund of the specific DCC College previously designated by the donor to be used for general scholarship needs at that college. If the scholarship is not college specific it will be transferred into the DCCCD Foundation Universal Scholars Program Fund. These transfers will occur twelve months after the date of the notice to the donor.

When all funds are awarded or transferred from the scholarship fund it will be closed.

Scholarships Existing Prior to January 1, 2005

• Scholarships existing prior to January 1, 2005 will remain in existence under the rules by which they were established. Donors will be required to build their fund up to a minimum of $1,000 once the fund is determined to be inactive. When determined inactive the fund will fall into the category of scholarships established after January 1, 2005 and will be governed by those rules/policies.

Pending Scholarships

• Scholarships pending completion at 12/31/04 are subject to the rules existing prior to January 31, 2005.

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