Launch Your Legacy: Sponsor a Monroe County Education Foundation Scholarship

By Becky Crabtree

It is always the season to plan for the future, but now is the time to think about your legacy (or that of a person you want to honor) by adding to the Monroe County Education Foundation's list of scholarships.

WHY?

There are a variety of reasons to "pay it forward" by sponsoring a scholarship for a Monroe Countian to further their education:

Men from the past have shared their global thinking on the subject: "Education is the most powerful weapon which you can use to change the world" - Nelson Mandela.

"An investment in knowledge pays the best interest." - Benjamin Franklin

A scholarship is an investment in a student's immediate future. It can affect the life of the recipient, their family, and those to whom they contribute knowledge or services.

A scholarship is an investment in our county's long-range future. The needs of our area are better met when local citizens can develop higher-level skills and education.

A memorial scholarship can honor you or a person and their accomplishments after they are gone, providing a legacy for you or them.

A scholarship offers hope and confidence to those struggling to improve their lives.

WHO HANDLES THE FUNDS?

The Monroe County Education Foundation is governed by ten board members, three advisors, and an administrator. It was founded and granted 501(c)(3) status in 2001 as a public charity. All contributions are tax-deductible as allowed by law.

There is a substantial WV tax benefit for donations over $500: a limited amount of state tax credits through the West Virginia Neighborhood Investment Program for half the amount donated.

The MCEF currently has over a million dollars' worth of assets, generating scholarship awards.

HOW MUCH DOES IT COST?

There are several ways to donate: A "pass-through" scholarship requires a one-year donation of $1,000 plus a $100 fee. The scholarship recipient receives the entire $1000. The fee covers the administration of the award.

An endowed scholarship requires $10,000, which generates interest that grows over the years to sustain the scholarship amount without further donations. The endowment can accumulate over time to reach the sustainable amount; that is, it can be donated in part, over three years, and supplemented with an annual "pass-through" amount until it reaches $10,000.

As costs rise, the foundation always appreciates unrestricted contributions for operational expenses, such as office supplies, cell phones, computers, printers, certificates, internet services, and possibly, in the future, office space rental.

WHAT DETERMINES ELIGIBILITY FOR EACH SCHOLARSHIP?

The standard requirement for all awards is that the applicant must be a Monroe County resident and register as a full-time student. More specifically, each award has parameters set by the donor. Most are available to anyone, some are for older students, some for women, and some for specific areas of study.

WHO GETS THE FUNDS PROVIDED BY THE SCHOLARSHIP?

As with most other scholarships, the award checks are issued directly to the recipient's school.

WHO DECIDES WHO GETS WHICH SCHOLARSHIP?

An independent selection committee meets annually to recommend scholarship recipients, subject to the approval of the MCEF Board of Directors. The successful candidates are announced in April at an awards ceremony.

HOW CAN I BEGIN THE PROCESS OF OFFERING A SCHOLARSHIP?

Your contribution would be more than making a donation; it would be making a difference. You have the power to bridge the gap between ambition and opportunity for a Monroe County student.

Call the MCEF at 304-646-2423 or email mcefwv@gmail.com, and speak with Laura Rice, administrator, or visit the website at mcefwv.org, or visit the Monroe County Education Foundation on Facebook.

This is part of a series focused on the Monroe County Education Foundation.