Scholarship Fund

OREGON COAST COMMUNITY COLLEGE FOUNDATION

 

SCHOLARSHIP FUND

 

I.   Establishment

  The Oregon Coast Community College Foundation hereby agrees to establish the - Scholarship Fund per the terms of this agreement. This fund is established initially by a gift of $588.33 from Centro de Ayuda.

 

II.   Purpose

  The purpose of this fund is to provide assistance to Latino students enrolled in classes at Oregon Coast Community College. The intent of the fund is to award $250.00 scholarships to Latino students to be used to help defray their tuition costs, books and other fees. Participating students must enroll or be enrolled in classes and make consistent progress toward their degrees or certificates. Funds may be used to pay for credit and/or Developmental Education classes.

 

III.   Funding

    This account shall be funded with private donations.

 

IV.   Investment

    All contributions for this fund may, for investment purposes, be merged with any of the investments assets of the Foundation, but these gifts shall be entered in the Foundation's books and records as the (Name) Scholarship Fund. The distributed income shall be used for purposes authorized by this agreement. The investment, management and expenditures of all funds shall be in accordance with Foundation policies and procedures.

 

V.   Administration

    The Board of Directors of the Oregon Coast Community College Foundation shall be the administrator of this fund. Expenditures relating to this Fund shall be subject to Foundation accounting procedures and guidelines. Scholarship awards will be based on the quality of the applicant's personal statement of career goals, perceived aptitude for success, and financial need. To qualify for the scholarship, applicants must:

  • Be registered (or be committed to registering) as a student at Oregon Coast Community College, carrying a minimum of 9 credit hours per term;
  • Demonstrate financial need and not be receiving financial aid from other sources;
  • Show ability to succeed in the field of (Program name); and
  • Provide evidence of satisfactory academic achievement with a minimum 3.0 GPA.

    Oregon Coast Community College Financial Aid staff screen applicants. The OCCC Foundation Scholarship Committee will designate a committee who will make the final selection. Once the scholarship has been awarded to the student, any decision to drop a class must be made by the established "drop with a full refund date" as determined by the class schedule. Any and all refunds will be madeto the --Scholarship Fund.

 

VI.  Amendment

   This agreement may be amended by mutual consent of the Foundation and the undersigned during their lifetimes. If changed circumstances should at some future time cause the continuation of this fund to be inappropriate or impractical, and the donors either are not living or are not able to consent to an amendment, then the Foundation may re-designate the purpose of the fund and the income there from.

 

  •                SCHOLARSHIP sponsor agrees to:
  1. Contribute, on a yearly basis, to this fund.
  2. Provide a contact person for the OCCC Foundation.
  3. Allow the OCCC Foundation to intermix these Funds with other funds for investment purposes with the understanding that a strict accounting of this Funds, as well as all funds, will be maintained.
  4. Allow the OCCC Foundation to use up to 2% of the income from the Fund's income to pay for postage, corporation fees and other small incidental expenses related to the administration of the --- Scholarship Fund. "Income" as used in this document refers to any interest or dividends but does not include capital gains, donations ot other increases in value.

 

  •                    OREGON COAST COMMUNITY COLLEGE FOUNDATION agrees to:
  1. Guarantee that none of the members of the  --- Scholarship selection committee are relatives of the applicant selected.
  2. Inform the scholarship recipient, in writing, of the award and the process for receiving these funds. The information will state that the full award will be deposited  to the students account at OCCC for tution fees and materials.
  3. Inform the sponsor of the ---- Scholarship of the name of the scholarship recipient.
  4. Send a check to the OCCC Business office for the full amount of the tuition, fees and materials for deposit to the recipient's account. If the recipient drops out of the course before the tuition/fee refund deadline, the OCCC Business office will send the refund to the OCCC Foundation.
  5. Provide an accounting of the --- Scholarship Fund at any time requested by the sponsor of this Fund. A yearly accounting will be provided to the sponsor during July of each year
  6. Invest the Fund in an OCCC Foundation pool of low risk mutual funds, CD's, bonds and money market accounts.
  7. Use up to 2% of the income from the Fund to pay for postage, corporation fees and other small incidental espenses related to administering the Fund. "Income" as used in this document refers to any interest or dividends but does not include capital gains, donations or other increases in value.

 

OREGON COAST COMMUNITY COLLEGE                                     9-22-2003

 

SPONSOR: CENTRO DE AYUDA                                                    9-22-2003