Scholarship Funds make grants to students in academic or interest areas that you designate. A scholarship fund can help you: Assist students with scholarship support. Designate support to a particular educational institution or course of study. Define criteria for selection of scholarship recipients. Three Scholarship Fund Options Donors can help students with scholarship support in three different ways through Minnesota Community Foundation: Designated Scholarship Fund - Allows the donor to select a nonprofit or educational entity to receive an annual contribution from the fund, in perpetuity. The nonprofit/educational organization receiving the grant can use its own process to select individual scholarship recipients. Minimum permanent size: $10,000. Scholarship Fund - Dedicated to providing grants on behalf of individuals (paid to an educational institution) for educational purposes. The money can never be redirected to any other purpose. This fund allows donors to help create the process to identify and select recipients. This type of scholarship fund is staffed by the Foundation and is generally appropriate for permanent funds greater than $200,000. Donor Advised Fund - Allows the donor or person(s) chosen by the donor to serve in an advisory capacity to the Fund, making recommendations about when and where and how much to grant from the Fund. Some donors use Donor Advised Funds to make contributions to educational institutions, which in turn use them for scholarship purposes. Minimum permanent fund size: $10,000. For information on establishing a fund to provide scholarship support, contact Doug Stasek, director of Gift Planning, at drs@mncommunityfoundation or 651.325.4272.