Why create a foundation instead of sending a donation check
1. Most universities do not allow donations to target scholarships to students from a specific geography, high school, their written goal statements, etc., but a foundation can.
2. Award criteria for scholarships funded via individual donations are determined by the university; you have no part in the decision. But for a foundation, selection criteria for your scholarship candidates are determined by both you and the university. You have a part in the decision, although the university sets minimum criteria.
3. For donations, the donor is anonymous as is the scholarship recipient. With a foundation, the student recipient can meet the donor, learn their motivations for awarding scholarships, and also learn how the foundation contact could be supportive beyond the scholarship.
4. The student recipient will likely appreciate that the donor’s giving is a form of “giving back” so they can be motivated themselves to follow suit if/when they are financially successful in their future careers.
5. Ongoing communication with the student, mentoring, monitoring progress, etc., can be fairly informal and direct. This is a one-on-one relationship.
If you are interested in how you can set up a foundation, I’ll be happy to discuss the steps with you if you email Info@lambertfndn.org