Rehoboth has a number of annual, non-endowed, named scholarships. These scholarships are academic based and students must submit a written application and an essay to be considered. A committee made up of staff members selects the winners.
Setting up a new scholarship fund
Creating a scholarship fund is an exciting process. The staff at Rehoboth will guide you through the steps.
Rehoboth Christian School offers donors two main types of scholarship funds based on the method chosen to fund the scholarship awards.
1. The first type is the Endowed Scholarship Fund. Endowed Funds limit the spending to a portion of the gift(s) plus investment earnings. Amounts in Endowed Funds can be invested in longer term investments, leading to growth and a hedge against inflation. To establish an endowed fund, the recommended contribution is $10,000 within a five year time period. A $2,000 initial contribution is required, and a pledge of $8,000 over the subsequent four years. Typically the donor(s) establish scholarship criteria and the Development Office applies the criteria, selecting one or more student recipients. (If these contributions levels are above what the donor desires, Rehoboth will place the gift in the general endowment fund and provide the donor with an annual update on the status of the general endowment fund and the impact of the fund, specifically sharing information about one or more students who have benefited from the fund.)
An Endowed Fund can also continue to grow through continued donations by the donor and the donor’s family and friends. The current policy sets the amount of the award at 4 to 6% of the fund's average balance and performance over the previous 3 years.
2. The second type, the Annual Scholarship Fund, is based on an annual contribution of at least $2,000. Usually the Admissions office collects data and nominates families to the Scholarship donor(s) for selection. Usually several students receive assistance from one fund as the amount per student is typically $500. An Annual Scholarship Fund offers all of the contribution dollars within a short time period (less than a year) to the students. Since these dollars are to be awarded in the near future, any investment of these funds is limited to short term, lower yield investments.
If you would like more information regarding the Scholarships, please contact Ken Zylstra, Director of Advancement at firstname.lastname@example.org.