Valley Community Foundation Awards more than $200,000 in Scholarship Funding to Support Educational Pursuits of Local Students
DERBY, CT (July 14, 2021) – With the 2020-2021 school year complete, the Valley Community Foundation (VCF) is pleased to announce that it has distributed $202,595 in the form of 96 awards from 79 scholarship funds to students pursuing higher education. 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.
“As we regain some semblance of normalcy following the pandemic and most students return to universities in full capacity this fall, many young adults will receive much-needed support to offset the increasing costs of tuition,” said Sharon Closius, VCF President & CEO. “Whether it’s participation on a sports team, preserving family history, or memorializing lifetime friendships that were made, establishing a scholarship fund at VCF to benefit graduating high school seniors in the region is an investment in our community’s future and reflects the importance of higher education.”
VCF has worked with the Valley’s high schools over the past several years 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 school staff saves time and resources by not administering individual savings accounts. Additionally, the money is invested in a large investment pool with VCF’s partner in philanthropy, The Community Foundation for Greater New Haven, which has historically yielded better returns and increased the size of the fund and the distributable amount over time.
Scholarship funds are created for a multitude of reasons. Most often they are created in memory or in honor of someone special. In addition, organizations and alums will set up scholarships as a gift to support the youth and the future of the community. Donors can define eligibility requirements for the scholarship such as the 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 throughout their college years.
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 over $1.9 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.