The total campaign goal is $1 million. For every pledged dollar that MSF secures between now and December 31, 2021,an anonymous donor’s estate will match it, dollar for dollar. If MSF raises a full $1 million by that deadline, the donor’s estate will add an additional $1 million, ultimately resulting in the creation of a $3 million endowment called the MSF Legacy Fund.
Because the matching gift will come from our benefactor’s estate rather than an outright cash gift, the endowment will not be fully funded until the estate is disbursed (the estate is held in Trust until the death of the benefactor). However, in the meantime, MSF will create new scholarships drawn from the interest earned on the $1 million in funds raised during the campaign.
MSF currently holds approximately $1.3 million in assets and awards around $70,000 in scholarships annually. Once the MSF Legacy Fund is fully funded, MSF’s assets will total over $4.3 million. With an average 5% annual return on investment, MSF will be able to award approximately $220,000 in scholarships annually. This means more and larger scholarship awards, as well as more renewable scholarships to support students beyond their first college year.
Your gifts to MSF have impacted the lives of hundreds of Milaca graduates and their families over the years. We are so grateful to loyal donors like you for your continued support. Given your loyalty, and the magnitude of this opportunity, we are asking those who have already invested in MSF to consider making a special gift to this campaign.
No, the campaign benefactor has specified that in order for gifts to count toward the matching goal, they must be applied to the MSF Legacy Fund. There is an option to create a named sub-fund within the MSF Legacy Fund for gifts of $10,000 or more.
You have 5 years from the date of your pledge to complete payment. MSF will send pledge payment reminders annually, semi-annually, or quarterly at your request.
Yes! MSF is grateful for EVERY gift we receive. All donors to the MSF Legacy Fund Campaign will be recognized on the MSF website (milaca.dollarsforscholars.org) at the conclusion of the campaign and in print publications, including our annual report. Donors pledging $1,000 or more to the campaign will have the option of being included on a permanent donor recognition display to be housed in Milaca High School.
For gifts of $10,000 or more, donors may create a named scholarship sub-fund within the Legacy Fund.
All endowment gifts of $10,000 or more are guaranteed a 5% annual return. This interest generates an annual scholarship award in perpetuity without drawing from the principal. A $10,000 endowment will generate a $500 annual scholarship, a $20,000 endowment a $1000 annual scholarship, and so on. Your Legacy Fund sub-fund can bear your name or the name of someone you wish to honor or memorialize.
No. As a matter of federal tax law, a donor to a Dollars for Scholars chapter is not permitted to control or direct the distribution of those funds to particular individuals.
MSF’s ultimate goal is to have an impact on all eligible MHS graduates wishing to further their education, regardless of their career path. However, we recognize that some donors may wish for their sub-fund scholarship to be awarded to someone going into a particular field of study. For this reason, you may request that candidates intending to study a particular field be considered first for scholarship awards from your sub-fund. However, if in any year no qualified candidates intending to study in this field apply to receive the scholarship, the MSF Awards Committee will award the scholarship to any other student(s) who meet the general criteria for Legacy Fund scholarships.
MHS seniors graduating in the current school year who have a cumulative GPA of 2.40 or better, and who plan to attend an accredited post-secondary institution following graduation (2-year, 4-year or other) are eligible to apply for Legacy Fund scholarships. Applicants use MSF’s online portal to submit a single scholarship application, which will automatically match them to available scholarship opportunities. MHS alumni (those who have graduated prior to the current school year) may also apply for Legacy Fund scholarships through MSF’s post-secondary award program.
The MSF Award Selection Committee uses a points-based merit system created by Scholarship America/Dollars for Scholars to evaluate scholarship applications. All awards are determined on an anonymous and nondiscriminatory basis.