Your legacy.
Their opportunity.
Why choose the GIPS Foundation to build your legacy?
Personalized Working with the GIPS Foundation allows you the opportunity to choose the type of student to invest in, with interests and aspirations that match your legacy.
Easy The GIPS Foundation makes starting a scholarship a simple process. Whether you are investing a few hundred dollars or a few million, the professional staff do the work, allowing you to enjoy the reward of creating opportunities for students.
Enriched donor experience The GIPS Foundation offers an experience for donors like no other. You are given the chance to meet your scholarship winners, learn about their plans and be part of their journey.
Safe and secure The GIPS Foundation's four-decade tradition of excellence offers peace of mind. You are investing in a trusted, reliable organization.
Recognized The GIPS Foundation is a nationally recognized charitable organization, setting the standard for others to follow. Our four-star foundation received the highest rating a charity can receive.
Building a Legacy Scholarship Fund
Executive Director
GIPS Foundation
How do I set up a scholarship fund?
The Foundation has an easy, uncomplicated and personal process. We will sit down and ask questions about how you, your family, your business or group want to build a legacy for a student’s future.
We will assure you that your scholarship or legacy fund reflects you, the person you’re honoring or your company.
Together we will build the guidelines that drive the student, best fit, for your scholarship or legacy fund.
Finally we want to build the mechanics of the fund. Together we will decide if your fund provides a scholarship every year, or forever. We will also assist you in deciding the amount of your scholarship.
If you would like to create an endowed fund that generates a scholarship every year, we will provide you with an investment strategy:
Endowed Funds: The GIPS Foundation generally allocates 4% of the endowed fund value to the annual scholarship award. So, if it is the donor’s desire to create a scholarship that pays $1,000 each year, forever, the endowed fund value will need to be $25,000. A $500 scholarship would require a value of $12,500 for the fund.
Not all at once: Donors may start a fund and let it grow over time. The Foundation will invest the fund, beginning at any level, and let it grow to the desired endowment level. Donors can add to their funds over time as well. Remember, all gifts to the GIPS Foundation are tax-deductible.
Pass-through Scholarship: The GIPS Foundation also offers pass-through scholarship, where the donor funds the scholarship annually. The Foundation processes this award and passes it on to the college or university on behalf of the winning student. There is a nominal fee of $50 per scholarship for this service.
At the GIPS Foundation we take pride in the quality of service we provide to donors who want to share their values with future generations through a scholarship fund. We make the process uncomplicated so that YOU can enjoy the satisfaction of investing in students.
Services we provide to our scholarship donors:
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Verified Pool of Qualified Applicants
Students fill out one online application. The application does the work processing student applications into the proper review groups for each scholarship.
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Marketing of Each Scholarship
All scholarship guidelines are uploaded on our website and are available through the online application. Guidelines that are open to multiple schools are sent to the appropriate school counselors.
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Credible Review Process
If you are a business or organization, the GIPS Foundation will work with you to set up a review group or use a review group appointed by the GIPS Foundation Board. All applications are reviewed online with the applicants’ names and other identifying information blocked from the review. Reviewers sign a conflict of interest statement. The review can be accessed using the internet.
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Scholarship Allocation Process
The GIPS Foundation has a Scholarship Allocation Committee. Their role is to make sure that the available scholarships are awarded fairly among different applicants, not all to just one person.
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Notification of Scholarship Award and Offer Process
The GIPS Foundation will notify the winner of your scholarship award and verify that this winner still meets all of your criteria. If the winner no longer meets the criteria (such as choosing to attend an out of state school, when the criteria stated student must attend a Nebraska college), the GIPS Foundation will offer your scholarship to an alternate determined in the application scoring process.
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Scholarship Winner and Donor Reception
The GIPS Foundation hosts a Scholarship Winner and Donor Reception annually to introduce students to the donors of their scholarships. This is a unique opportunity to make a personal connection to your scholarship winner. *When it is safe to do so in-person.
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Payment and Follow-up with Winners
The GIPS Foundation verifies enrollment of all scholarship winners in accredited post-secondary institutions and makes scholarship payments to these institutions on behalf of the scholarship winner.
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Scholarship Compliance Issues
The IRS has several rules guiding scholarship awards and distribution. The GIPS Foundation follows these rules to ensure a safe and credible experience for our donors. Additionally, the GIPS Foundation will handle all NCAA Scholarship Compliance calls and requests for students who play college athletics.
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Tax-deductible Gifts
Your scholarship donation is tax deductible. You will receive a receipt for your gift and be listed in our annual report (you may also choose to remain anonymous).
Have additional questions?
For more information or to get started with your own legacy scholarship fund complete the form below, or call/email Kari Hooker-Leep at 308-385-5900 ext. 201170; khookerleep@gips.org
