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A Memorial Fund, administered by the Bolton Scholarship Fund, offers a way to remember a loved one through the awarding of an annual scholarship in his/her name. Donations, which are tax deductible, are always acknowledged by the Scholarship Committee which also provides the family with a list of names of donors who have contributed to the fund. Individuals, families, businesses and civic organizations may also choose to set up a fund to provide annual named or memorial scholarships. It should be understood that the basic intent of establishing a fund is to increase the principal by regular additional contributions so that it will eventually become self-sustaining.

A minimum initial amount of $500 is required to establish a fund; additional contributions in any amount may be made at any time throughout the year. The treasurer of the scholarship fund will provide biannual reports on the status of each fund. The minimum annual scholarship award from a fund will be $300. This amount may be realized each year in a number of ways:

1. From yearly interest on the principal
2. From interest on the principal plus an additional contribution
3. From interest on the principal plus funds drawn from the principal to make up the difference

Funds established prior to October 1, 2003 may continue under previous guidelines, but donors are encouraged to consider increasing annual awards to reflect the current economy and the increasing cost of post secondary education.

The alternative to an ongoing fund is a Named or Memorial Scholarship which may be a one time award or continue year to year with an annual contribution of $300 or more. The current minimum scholarship amount is $300.

While the committee realizes that donors may want to establish criteria for the scholarships they provide, we ask that any such directives be general in nature. If criteria are too specific, there may not be a candidate in the applicant pool who meets the requirements. Donors may offer suggestions and/or alternatives to make it possible for the committee to choose an appropriate recipient.

All donors of Named and Memorial Scholarships will be contacted by the BSF president before the annual awards are made in order to reconcile any questions.

If you are interested in establishing a fund or would like more information, please contact us.  We are happy to answer any of your questions.