Foundation Scholarship Programs
Make a Scholarship Gift
Establishing a named scholarship can be a meaningful way to recognize or pay tribute to someone special in your life. Consider tailoring the criteria of the scholarship to reflect a special interest or geographic preference. (For example, a scholarship for a first-generation college student or a student from Woodstock.)
Scholarship Types
Endowments
If you wish to establish a scholarship that will be given to one or more students each year in perpetuity, we encourage you to consider establishing an endowed scholarship. An endowed scholarship fund is invested and a portion of the yearly market returns on the investment are awarded to students for scholarships. To establish an endowed scholarship fund, a $25,000 balance is required to be invested for one year prior to awarding students scholarships. The original gift and any additional funding to the endowed fund are held in a permanently restricted fund and continue to be invested per the Friends of MCC Foundation Investment Policy.
Annuals
An annual scholarship is created when the donor provides regular annual gifts or provides a one-time gift to award for a defined period of time until the fund is depleted. Typically, the minimum annual fund gift is $1,000. For example, a $1,500 gift may be made in memory of someone with the instruction to award $500 to a student each fall for the next three years.
Awarding Scholarships
The Friends of McHenry County College Foundation office manages the advertisement and selection of recipients for Foundation scholarships. Donors who wish to be involved in the selection may sit in with scholarship selection committee when applications are reviewed. You are always given the opportunity to meet and congratulate the student who receives your scholarship.
Scholarship donations to the Friends of McHenry County College Foundation provide opportunities for students to transform themselves, their families, their futures and their communities. We invite you to invest in the future of an MCC student.
To learn more about establishing a scholarship, contact the Foundation Office at (815) 455-8721 or foundation@mchenry.edu.