The APS Foundation stewards a robust student scholarship program created through the generosity of individuals, families and organizations throughout our community. This scholarship program fosters the college-bound culture within the district. In 2014, we provided more than $65,000 in scholarships to graduating seniors. The foundation offers donors the opportunity to establish two types of scholarships:
• Donor-Managed Scholarships
• APS Foundation Managed Scholarships
All donor-established scholarships are first created when a contribution is given to the foundation with the intent to be held as a separate advised fund in the name of the scholarship. The foundation’s primary responsibility is to administer and distribute these funds according to the donor’s direction.
The donor may choose to provide a name for the scholarship, offer a statement of purpose, select award criteria, determine award amounts and number of annual awardees, name a selection committee, and participate in the presentation of the award or the donor may request the foundation to assist with any or all of these matters.
For both types of scholarships the foundation will:
• Distribute scholarship awards directly to the educational institution on behalf of the award recipient;
• Provide semi-annual reports to the grantor showing the assets held in the fund, all contributions, income and distributions;
• Acknowledge and appropriately recognize all contributions received; and
• Invest funds according to its general investment policies and objectives approved by the Board of Directors.
If the Donor chooses to establish an APS Foundation Managed Scholarship the foundation will:
• Develop a scholarship application and scholarship marketing materials;
• Promote the scholarship opportunity;
• Post the scholarship application and award information on the APS Foundation website;
• Collect completed applications and forward to grantor for their review; and
• Notify award winners.