“Because of these scholarships, I was able to attend college and get my Accounting degree without paying a penny from my pocket. That allowed me to save up while working during college. Then, I got accepted at an internship at a bank which led to a full-time position once I finished school. This helped me achieve my dream: become a homeowner, providing for my son as a single mother. Thank you! You have no idea the impact you’re making in students’ lives.” Mariana Alvared Nunez, Ivy Tech, Accounting
Scholarship Impact Reports
Scholarship impact reports give you an annual snapshot of what scholarship giving made possible through CICF and our partners at Hamilton County Community Foundation, the Indianapolis Foundation, and Women’s Fund of Central Indiana, along with what we’re learning about enrollment and affordability trends.
In 2024, the combined scholarship program awarded $2,137,250 through 211 awards to 163 recipients, from 1,047 applications. Within that total, CICF fundholders awarded 76 scholarships totaling $879,400. The report also shares where students enrolled, what they’re studying, and student stories that bring the impact to life
Interested in Creating a Scholarship Fund?
Contact Clark Collier at clarkc@cicf.org or 317.634.2423 x511 to learn your options and get started.
How it Works
Our team meets with you to learn about your goals and the type of student you want to benefit, and together we decide which scholarship option is best for you.
You determine the eligibility and selection criteria for students, thereby supporting the educational or training goals you have and the type of student you are most interested in supporting. We can help you navigate the process of setting appropriate criteria for your scholarship.
We work with you to establish your fund and ensure that everything—from applications to monitoring students’ progress and continued eligibility—meets your expectations and all IRS rules and regulations. You may choose to meet the scholarship recipient(s) and follow them through their program. You choose your scholarship fund’s name.
You make a contribution of cash, securities, or other assets. You receive tax benefits in the year your gift is made, and because your fund is held at an entity within the CICF Collaborative, you receive the maximum tax advantages the law allows. You and others can add to the scholarship fund at any time. There is no minimum contribution amount once the fund is established.
We create a dedicated webpage and URL for your scholarship and solicit applicants through our expansive marketing process, unless you request otherwise.
The scholarship recipient is selected according to the type of your scholarship fund. Award & Report Back: Awards are paid directly to the eligible educational institution for use by the selected student, and we keep you informed of the growth of your fund and its impact on students’ lives.
Scholarship Fund Options
- Who’s Eligible: Students from a high school or college of your choice. In agreement with the school, you can also select other criteria such as fields of study or student profiles that are acceptable to the school.
- Application Process: The school or college, or educational foundation connected to the designated school or college, selects the students using its existing scholarship award processes.
- Structure: Endowed fund with 5% of the fund balance as of December 31 of the prior year available for award.
- Minimum to establish: $25,000.
- Fees: 1% annually. Fees are reduced for fund balances exceeding $1 million.
- Who’s Eligible: You work with us to establish general criteria and eligibility requirements that reflect your interests and passions.
- Application Process: Students apply via our online portal. Through the portal, they can concurrently apply for any other scholarships for which they are eligible. Our experienced Blue Ribbon Selection Committee reviews the applications to your fund and selects the scholarship recipient. You or your representative can participate on the committee and meet the scholarship recipient(s) if you wish.
- Structure: Blue Ribbon scholarships may be either endowed or pass-through. Endowed scholarships award up to 5% of the fund balance as of December 31 of the prior year. Passthrough scholarships may award up to 100% of the assets in the fund in one year, depending on your intention for the fund.
- Minimum to establish: $100,000.
- Fees: 2% annually plus an optional annual $5,500 fee for premium services. Fees are reduced for fund balances exceeding $1 million. Minimum annual fee: $2,000.
- Who’s Eligible: You work with us to establish customized criteria and eligibility requirements that reflect your interests and passions.
- Application Process: Students apply via our online portal. Through the portal, they can concurrently apply for any other scholarships for which they are eligible. Or if you prefer, we can help you run a separate application process. You can work with us to create a selection process and appoint a selection committee for your scholarship fund. Federal law requires that we make the final authorization of the scholarship awards. You can participate on the committee and meet the scholarship recipient(s) if you wish.
- Structure: Gold standard scholarships may be either endowed or pass-through. Endowed scholarships award up to 5% of the fund balance as of December 31 of the prior year. Pass-through scholarships may award up to 100% of the assets in the fund in one year, depending on your intention for the fund.
- Minimum to establish: $100,000
- Fees: 2% annually plus flat $5,500 annual premium service fee. Fees are reduced for fund balances exceeding $1 million. Minimum annual fee: $7,500.
- If you are passionate about helping students with educational expenses without starting your own scholarship fund, we can help identify one of our existing funds that align with your interests or passions.