Berkshire Taconic Community Foundation

Scholarship Fund

Scholarship funds allow you to provide the gift of education to students within the Berkshire Taconic region.

You may choose to focus your scholarship fund on a school or school district within the region, specified areas of study or other criteria. An advisory committee may be assembled to review applications and recommend recipients, or you may choose to have Berkshire Taconic select award recipients based on your criteria.

Scholarship funds are endowed. You receive an immediate charitable income tax deduction when you create the fund and deductions whenever you make additional gifts.

Berkshire Taconic invests the funds, provides record-keeping services, and will work with you to set up criteria and, if desired, a committee to oversee a competitive award process.

Minimum to open a scholarship fund: $25,000

Investments

Our Investment Committee meets at least four times a year and monitors all investment activity. Our administrative staff, led by Jill Gellert, director of finance and administration, provides day-to-day oversight.

Fees

Each fund pays an administrative fee, which help support our wide range of services and community work. Administrative fees are charged quarterly based on the average daily balance of the fund (minimum fee is $125 per quarter).

The administrative fees for scholarship funds are:

2.0% per year on portion up to $250,000
1.75% per year on portion $250,000—$1 million
1.0% per year on portion $1 million—$3 million
0.75% per year on portion $3 million and above

To talk to us about starting a scholarship fund, contact Maeve O'Dea, program director, at maeve@berkshiretaconic.org or 413.528.8039.