Establish a Fund

 

Most of the funds in the Greater Seymour Trust Fund were established not only to honor special people, but also to serve a specific need which is or was close to the heart of those whose name it honors. A contribution of $10,000 or more allows the establishment of a separate fund for your specific purpose.

The Greater Seymour Trust Fund is a Private Foundation which makes distributions to recipients who have a 501(c)(3) designation. Jackson County Bank acts as Trustee for the Greater Seymour Trust Fund and the Fund is directed by a Board of Managers. The current Trustee's fee for the fund is .85% on the current market value of the fund. The Trust makes distributions based on total return as approved annually by the Board of Managers.

Consider the Following When Establishing a Fund

  • What would you like the Name of the Fund to be?
  • What is to be the Purpose of the Fund? (Do not define your intended use of funds too narrowly as this may cause the funds not to be granted).
  • Are there available funds sufficient to carry out the mission of the fund?
  • Guidelines may be established by Grantor and upon review accepted by the Trustee.
  • If Scholarship Fund,
  • Who is to be considered an eligible student?
  • Will scholarship be for tuition only, or include an amount for other expenses?
  • Will ongoing GPA be required?
  • Will scholarship for subsequent years be made?
  • Will number of scholarships be limited to one participant a year?
  • Scholarships are made payable to the student and the student's school.
  • Possible criteria for scholarship eligibility:
  • Financial Need
  • High School/College GPA
  • Community Service
  • School Activities
 

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