Newburn-Asher Scholarship Fund – 1197

Fund Type: Endowment Scholarship Fund


Fund Description:

The purpose of the Fund shall be to provide support as directed by the Board of Directors (the “Board”) of the Community Foundation for educational scholarships for students who are accepted into and attend accredited two- or four-year public or private institutions of higher learning as described in Code section 170(b)(1)(A)(ii), and in particular to such students who meet the following qualifications:

The purpose of this fund is to establish a scholarship fund for the education of healthcare professionals for residents of Morgan County, Indiana.

The Foundation shall determine the appropriate scholarship available for award depending upon the number of applicants and the amount of money so available.

In making selections and recommendations the Scholarship Advisory Committee and the Community Foundation shall give preference to recipients who intend to have a healthy career in Morgan County, Indiana, and scholarships may be awarded annually to the same recipient if the Foundation deems this appropriate. Recipients shall agree to attempt to service employment, if available, in Morgan County, Indiana, for at least one year upon completion of their education.

In the event that the above criteria are too restrictive (because no student accepted to the Community Foundation meets the criteria, or for other reasons), the purpose of the Fund shall include the support of educational scholarships for deserving students who most closely satisfy the criteria. All support provided from the Fund shall further the educational, charitable, or other exempt purposes of the Community Foundation within the meaning of Code section 170(c)(1) or 170(c)(2)(B) and shall be consistent with the mission and purposes of the Community Foundation.