There are several options for creating a scholarship in honor of you, your organization or company, a group, or a cause.
An endowed scholarship is named for a person, company or organization. The money is collected from one or more people, invested by the MPEF finance committee and a percentage of the funds disbursed yearly for scholarships. The corpus of the endowment would remain in MPEF investment vehicles for a permanent fund.
There is a $25,000 minimum for endowed scholarships.
If the endowed scholarship collects more money, or the donor gives more than $25,000, either the amount of the scholarship could be increased, or MPEF could choose to give more than one scholarship.
One time scholarship
A one time scholarship is given by a person, persons or organization/company, with all the money being collected at one time or from one event, and all the money being disbursed.
Multi year scholarship, non-endowed
A scholarship amount is pledged, over a period of years, with the money given each year and disbursed each year. It could be named for the life of the pledge or named for a group, company or person. It could also be rolled into the general scholarship fund of MPEF.
MPEF can work with you to establish an endowed or named scholarship using various financial vehicles.