Cranberry Legacy Endowment

 

Frequently Asked Questions

How are Cranberry Legacy Endowment funds named?
The major benefactor of a fund establishes the name. You can establish it in your own name or choose to name it for a friend, family member, or organization.

What are the levels of Cranberry Legacy Endowment scholarship funds?
As with Legacy Endowments, we recognize endowed scholarships at several levels and encourage benefactors to continue contributing to their scholarship fund.  We recognize scholarships at: Legacy: $10,000, Heritage: $25,000, Pillar: $50,000, Legend: $100,000 and higher. A $10,000 scholarship will typically yield about $500 a year to the student.

Will Cranberry Legacy Endowment distribute Annual Scholarships?
The Cranberry Legacy Endowment only handles scholarships which are supported by an endowment. However, we will handle annual distributions if an endowment is being started and built up to become a Legacy Scholarship.

We want to endow a scholarship directly to our high school, college or university instead of Cranberry Legacy Endowments, but will you still recognize it?
No. We recognize only scholarship established directly with Cranberry Legacy Endowments.

How are the selection criteria established for the scholarship I am establishing?
You can aid in establishing the scholarship criteria by expressing your intentions for the award.  The Cranberry Legacy Endowment will draft the scholarship criteria according to your specifications and present it for your approval.

How are Cranberry Legacy Endowment scholarships awarded?
The availability of scholarships for current students are announced by local high school and college guidance councilors who collect the applications.  Typically, a school-based selection committee will review each application and select the most deserving recipient(s) based on the donor’s criteria.  Legacy scholarships specific to Butler County Community College which are available to incoming freshmen may be awarded by the BC3 Admission Office.

Will I receive notification when a student is awarded the scholarship?
You will be notified annually when the recipients of your scholarship have been selected. You will be informed of their names and hometowns, as well as the amount of the award and status of the fund.

For additional information, please contact a representative of Cranberry Legacy Endowment at question@cranberrylegacyendowment.org 

As with all investments, trust and gifts, we recommend that you seek professional counsel for up-to-date tax laws and estate planning that will best suit your needs.  All information provided in this website is intended to illustrate the concept behind each investment. No promises or guarantees of returns are being made.