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Blackwell Consolidated Education Foundation
Education Grant Policies and Procedures
Purpose
The Blackwell Consolidated Education Foundation has created an education grant fund at the First Financial Bank Trust to hold certain funds to provide educational grants to individuals for educational purposes, hereinafter referred to as the Blackwell Consolidated Education Foundation Education Grant Fund. This education grant Policies and Procedures has been prepared to ensure that the educational grants meet the requirements of paragraphs (1), (2), or (3) of section 4945(g) of the Internal Revenue Code and are awarded on an objective and nondiscriminatory basis.
Compliance With Section 4945(g)
All educational grants shall meet the requirements of paragraph (1), (2), or (3) of Section 4945(g) of the Internal Revenue Code.
1 Paragraph (1) of Section 4945(g) permits grants that are education grants or fellowships. An education grant or fellowship grant is defined as a grant to a degree candidate for tuition, fees, and other expenses. These grants are to be used for study at an educational institution that maintains a regular faculty and curriculum and has an organized body of students in attendance at the place where the educational activities are held.
2 Paragraph (2) of Section 4945(g) permits grants that are prizes or awards made primarily in recognition of religious, charitable, scientific, educational, artistic, literary, or civic achievement. If the recipient is chosen from the general public, he or she must be selected without any action on his or her part to enter a contest or proceeding, and the recipient must not be required to provide services as a consequence of receiving the award.
3 Paragraph (3) permits grants to achieve a specific objective, produce a report or other similar product, or improve or enhance a literary, artistic, musical, scientific or other similar capacity, skill, or talent of the grantee. This is the broadest category and covers, for example, awards to artists to create works of art, and some education grants that do not fit under paragraph (1).
Objective and Nondiscriminatory Selection Process
All educational grants shall be awarded using an objective and nondiscriminatory selection process in advance of making awards. Notwithstanding any previous discriminatory selection criteria that may have existed prior to the adoption of this policy or the amendment of laws and regulations from time to time that can change the process for administrating the selection process of such educational grants.
Eligibility
The group from which grantees are selected will be chosen as follows: It is the desire of the Blackwell Consolidated Education Foundation to provide graduates of Blackwell High School, in Blackwell Texas, with an education grant to attend vocational school, college or university of the student’s choosing. Said grants will be available for this and all future graduating classes of Blackwell High School and will be paid and renewable as further defined in this policy. The criteria used to select grant recipients shall be related to the purpose of the grant, and may include (but are not limited to) the following:
● Completion of a course of study sufficient to produce a graduation diploma from Blackwell High School and provide transcripts to substantiate said completion.
● Acceptance to attend any nationally accredited vocational institution, junior college, or four-year college or university.
Education Grant Award amount determination for current graduation seniors
From this fund, educational grant awards will be made available to current graduating seniors based upon the number of complete years (as defined by BCISD, which is completion of at least one semester during the first school year, then completion of both semesters of a school year, thereafter) of successful attendance of a student in the BCISD to attend post secondary education. BCEF will review the number of applicants from current students as well as past students to determine the amount available for educational grants and BCEF may adjust the amount available for educational grants, based on many factors, including the number of applicants, the amount of PILOT proceeds, investment returns of the fund, etc. Below is the proposed matrix of awards for four years of college for current 2011 graduates and future graduates, unless changed by the BCEF:
Years of Amount of total
Attendance Educational Grant award
1 $5,000
2 $10,000
3 $15,000
4 $20,000
5 $25,000
6 $30,000
7 $35,000
8 $40,000
9 $45,000
10 $50,000
11 $55,000
12 $60,000
Education grant should be paid out pro-rata, based on equal payments which are concurrent with the recipient’s post secondary educational plans, over four years to a school or program. For example: a student attending a four year college, who attended BCISD for 10 years, could receive $6,250 each long semester in four years totaling $50,000 in education grant awards. Such education grant payouts should occur in four years, but not more than five years, or occur longer than 10 long semesters. Any requests to vary said pay-out must be submitted BCEF for approval. A prospective recipient of this grant must not have been out of school or college for more than two years to be eligible for this educational grant. A student, who is attending a vocational or technical school for less than four years, is eligible to receive the pro-rata amount of this four year award. A student who has served in a branch of the military will be allowed to receive this education grant, after completion of service with the military.
Education Grant Policies and Procedures
Purpose
The Blackwell Consolidated Education Foundation has created an education grant fund at the First Financial Bank Trust to hold certain funds to provide educational grants to individuals for educational purposes, hereinafter referred to as the Blackwell Consolidated Education Foundation Education Grant Fund. This education grant Policies and Procedures has been prepared to ensure that the educational grants meet the requirements of paragraphs (1), (2), or (3) of section 4945(g) of the Internal Revenue Code and are awarded on an objective and nondiscriminatory basis.
Compliance With Section 4945(g)
All educational grants shall meet the requirements of paragraph (1), (2), or (3) of Section 4945(g) of the Internal Revenue Code.
1 Paragraph (1) of Section 4945(g) permits grants that are education grants or fellowships. An education grant or fellowship grant is defined as a grant to a degree candidate for tuition, fees, and other expenses. These grants are to be used for study at an educational institution that maintains a regular faculty and curriculum and has an organized body of students in attendance at the place where the educational activities are held.
2 Paragraph (2) of Section 4945(g) permits grants that are prizes or awards made primarily in recognition of religious, charitable, scientific, educational, artistic, literary, or civic achievement. If the recipient is chosen from the general public, he or she must be selected without any action on his or her part to enter a contest or proceeding, and the recipient must not be required to provide services as a consequence of receiving the award.
3 Paragraph (3) permits grants to achieve a specific objective, produce a report or other similar product, or improve or enhance a literary, artistic, musical, scientific or other similar capacity, skill, or talent of the grantee. This is the broadest category and covers, for example, awards to artists to create works of art, and some education grants that do not fit under paragraph (1).
Objective and Nondiscriminatory Selection Process
All educational grants shall be awarded using an objective and nondiscriminatory selection process in advance of making awards. Notwithstanding any previous discriminatory selection criteria that may have existed prior to the adoption of this policy or the amendment of laws and regulations from time to time that can change the process for administrating the selection process of such educational grants.
Eligibility
The group from which grantees are selected will be chosen as follows: It is the desire of the Blackwell Consolidated Education Foundation to provide graduates of Blackwell High School, in Blackwell Texas, with an education grant to attend vocational school, college or university of the student’s choosing. Said grants will be available for this and all future graduating classes of Blackwell High School and will be paid and renewable as further defined in this policy. The criteria used to select grant recipients shall be related to the purpose of the grant, and may include (but are not limited to) the following:
● Completion of a course of study sufficient to produce a graduation diploma from Blackwell High School and provide transcripts to substantiate said completion.
● Acceptance to attend any nationally accredited vocational institution, junior college, or four-year college or university.
Education Grant Award amount determination for current graduation seniors
From this fund, educational grant awards will be made available to current graduating seniors based upon the number of complete years (as defined by BCISD, which is completion of at least one semester during the first school year, then completion of both semesters of a school year, thereafter) of successful attendance of a student in the BCISD to attend post secondary education. BCEF will review the number of applicants from current students as well as past students to determine the amount available for educational grants and BCEF may adjust the amount available for educational grants, based on many factors, including the number of applicants, the amount of PILOT proceeds, investment returns of the fund, etc. Below is the proposed matrix of awards for four years of college for current 2011 graduates and future graduates, unless changed by the BCEF:
Years of Amount of total
Attendance Educational Grant award
1 $5,000
2 $10,000
3 $15,000
4 $20,000
5 $25,000
6 $30,000
7 $35,000
8 $40,000
9 $45,000
10 $50,000
11 $55,000
12 $60,000
Education grant should be paid out pro-rata, based on equal payments which are concurrent with the recipient’s post secondary educational plans, over four years to a school or program. For example: a student attending a four year college, who attended BCISD for 10 years, could receive $6,250 each long semester in four years totaling $50,000 in education grant awards. Such education grant payouts should occur in four years, but not more than five years, or occur longer than 10 long semesters. Any requests to vary said pay-out must be submitted BCEF for approval. A prospective recipient of this grant must not have been out of school or college for more than two years to be eligible for this educational grant. A student, who is attending a vocational or technical school for less than four years, is eligible to receive the pro-rata amount of this four year award. A student who has served in a branch of the military will be allowed to receive this education grant, after completion of service with the military.