Valley Community Foundation Awards $170,000 from Scholarship Funds to Support Educational Pursuits of Local Students
DERBY, CT (October 22, 2020) – Whether at home conducting remote learning, via a hybrid model, or attending full-time and in-person, the start of a new school year looks very different for students pursuing higher education during the pandemic. With the 2020-2021 academic year under way, the Valley Community Foundation (VCF) is pleased to announce that it has awarded more than 160 scholarships totaling $170,000 from its 75 scholarship funds. While many of these students are entering their first year of higher education this fall, some awards provide renewable tuition assistance for up to four years.
“For many Valley residents, establishing a scholarship not only pays tribute to their family but it can also memorialize their name at a local high school,” said Sharon Closius, VCF President & CEO. “Whether it’s participation on a sports team, the longevity of family history, or memorializing lifetime friendships that were made, establishing a scholarship to benefit local high schools is an investment in our community’s future and reflects the value of higher education.”
For years, VCF has worked with the Valley’s high schools to manage and administer scholarship funds. Rather than a high school holding the scholarship money in a CD or savings account, scholarships are established, managed, and invested with VCF. The high school continues to select the recipients of various scholarships, but the staff saves time and money by not administering individual savings accounts. Additionally, the money is invested in a large investment pool that has historically yielded a better return, which increases the size of the fund and the distributable amount over time.
Scholarship funds are often created in memory of someone special. Depending on preference, the scholarships can support any area of academic need, including tuition, room and board, or books. Donors can simply select eligibility requirements for the scholarship based on a student’s field of study, academic achievements, extracurricular activities, financial need, background, or geography. Some scholarships give a single award to support a graduating senior pursuing higher education while others can be renewable through college.
If you are interested in establishing a scholarship fund in honor or in memory of a loved one that can benefit a local graduating senior each year, contact Sharon Closius, Valley Community Foundation President & CEO, for more information at 203-751-9162 or visit www.valleyfoundation.org.
About The Valley Community Foundation
Established in 2004, the Valley Community Foundation distributes approximately $1.6 million in grants each year to support the local nonprofit sector and the people it serves. In addition to grantmaking, VCF works in strong partnership with The Community Foundation for Greater New Haven (TCF), to promote philanthropy in Ansonia, Derby, Oxford, Seymour and Shelton and receives funding from The Gates Fund and other preference funds at TCF that benefit the Valley. For more information, visit www.valleyfoundation.org.
