Create a Scholarship
- First Command Educational Foundation | FCEF
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- Get Involved
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- Create a Scholarship
An endowed scholarship is created with a donation that earns interest each year. Your donation is invested, and the proceeds will fund a scholarship for years to come, creating a lasting legacy. Endowment scholarships are a wonderful way to honor, tribute, or remember a beloved family member, friend, or mentor.
FCEF makes every effort to accommodate the donor’s wishes for their endowment. Donors are encouraged to provide a photo and a brief biography for the person the endowment is named. Additionally, donors can provide broad criteria requirements for applicants, such as a minimum GPA or geographic area, etc.
Most donors already have a school or university (partner organization) in mind where the scholarship will be offered. FCEF will work on the donors’ behalf with the partner organization to ensure scholarship recipient information is received and funds are distributed annually.
∙ A Memorandum of Understanding (MOU) will be established reflecting the donor’s wishes and outlining the roles and responsibilities of both parties.
∙ A minimum donation of $50,000 is required.
∙ At this amount, the endowment funds a $1,000 annual scholarship in perpetuity.
∙ The endowment must be fully funded within five (5) years.
∙ No money is paid out until the endowment is fully funded and there are enough earnings to keep the corpus at $50,000 or above.
Administrative fees associated with endowment:
∙ Accounts not fully funded are assessed a $100 annual administrative fee until the account reaches the minimum balance.
∙ Once funded, the annual administrative fee is 1%.
∙ Donors can choose to have FCEF manage the application and selection process for an annual administration fee of 2.5%.
