You may fund your new scholarship by depositing funds with us in a professionally managed investment account. You may be asked to sign a fund agreement at the time of set-up. Our fund balance is currently in excess of $5 million. Earnings and/or principal may fund an annual scholarship according to donor directed wishes. Additional funds may be added in the future to reach a particular endowed amount to last perpetually. Consult us for specific guidance on meeting those objectives.
Other funding options
General Fund Scholarship
Unrestricted monies are deposited into JCEF as part of a professionally managed investment pool. Specific instructions are provided for these awards within flexible guidelines so annual awards to deserving students may be made. A typical scholarship of this type may come from a Will or Estate plan of an individual.
The ‘pass-through’ method enables a donor to award a specific amount scholarship annually (or for some duration of time), eg. a $1,000 scholarship for the current school year. JCEF supplies applications to donors for award recommendation if so desired or advises on other selection methods. Donors receive invitations to the schools’ awards ceremonies to present the award or may designate the foundation or school personnel to present.
We ask that funds intended for disbursement in the current school year be sent to JCEF by April 15 if at all possible. This allows us to have the funds well in hand prior to making formal awards. Selected students are notified of scholarship awards in May or June at Scholarship Award ceremonies held at specific schools. Students may request funds for college as early as Summer in some situations, and it is necessary to have funds on hand to fulfill incoming redemption requests from recipients. JCEF, unlike many foundations, charges no fees for this service.
JCEF charges a 2% management fee for investment scholarship fund accounts. There is no minimum contribution that donors must meet to establish such an account.
Disbursement of Scholarship Funds
JCEF handles all of the administrative, accounting and reporting aspects of disbursing the scholarship when redemption requests are received, while ensuring that specific donor award requirements are met. In other words, we do the “due diligence” for you, ensuring that the student is enrolled in colleges, universities or schools meeting your award criteria and other related protocols are carefully monitored and carried out. Annual financial reports to donors are provided in early January and more frequent reporting is available, upon request.