The Nebraska Community Foundation works with community, organizational and donor-advised affiliated funds serving 250 communities located in 80 counties. NCF and its affiliated funds have reinvested $269 million in Nebraska since 1994.
Nebraska Community Foundation affiliated funds have a variety of accounts, some of which are designed to make scholarships to youth or adults in their areas. This section of the Web site provides affiliated fund leaders with information regarding requirements and best practices for administering these scholarship accounts.
The Nebraska Community Foundation (NCF) updated its Scholarship Administration Policy in 2007 to comply with the Pension Protection Act of 2006 changes to the law regarding scholarships with donor involvement. This law impacts scholarship funds named for (including memorial scholarships) or sponsored by individuals, families, alumni or professional groups and corporations.
To ensure compliance with the law, it is necessary for NCF to appoint the Scholarship Selection Committee members for each affiliated fund annually and to insure that no such committee is controlled by a donor.
Because you know your community or mission best, we are asking each Fund Advisory Committee (FAC) to nominate potential members of your scholarship selection committee. NCF will review nominations and formally appoint the Scholarship Selection Committee members for each affiliated fund.
Remember that you cannot begin the scholarship selection process until your nominations have been approved and you have received confirmation of approval by NCF. All affiliated funds, even those that do not make scholarships, are required to submit Scholarship Selection Committee paperwork.
Scholarship payments that are not made in compliance with the law are subject to a 20% tax. We will not make any scholarship payments that would subject any NCF affiliated fund to this tax. To avoid the embarrassment of not being able to pay a scholarship you have already announced, your affiliated fund must comply with these procedures and timelines.
If your affiliated fund does not grant scholarships see Information for Affiliated Funds that DO NOT Grant Scholarships at the left for more information on the steps you must take.
If your affiliated fund grants scholarships see Information for Affiliated Funds that Grant Scholarships at the left for more information on the steps you must take.
Please see Frequently-Asked Questions at the left for more information. Our staff is available to help your Fund Advisory Committee think through your scholarship program. If you have questions regarding scholarship administration, please contact us.
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