Setting up an educational scholarship or a field of interest fund can be a meaningful way to give back to your community or to honor a loved one. The Quesnel Foundation provides administrative support to help you determine the terms of your giving. For more information please click here - Options for Giving.
These funds work much like the Community Fund, except that donors will identify an area of interest that they would like to target their support. The donor empowers the Foundation’s Committees to select independent recipients based on fair and legitimate eligibility criteria suggested by the donor. Scholarship funds award high academic performance while bursary funds concentrate on financial need and satisfactory academic progress. Field of Interest funds may target various community projects. The minimum donation to establish a Field of Interest or Scholarship or Bursary Fund is $30,000.
Each new Scholarship & Bursary Fund will have 5 years from the date of the initial donation to reach the minimum balance level until then, no annual awards will be made (subject to CRA requirements from year to year). Scholarship & Bursary Funds not reaching the minimum balance level within the stipulated 5 year period will automatically revert to the Community Endowment Fund. If, at that time, the value meets or exceeds the amount required for a Named Fund, the option will exist to establish a Named Fund within the Community Endowment Fund.
The Foundation has a selection committee, with at least one board member, which donors can join. The donor(s) must not comprise more than 50% of the selection committee. The selection committee recommends the recipients to the Foundation and the Foundation accepts or rejects the recommendation of the committee. The Foundation's Grants committee (with at least two board members), selects the recipients for Field of Interest Funds.
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