The Daughters of Penelope Foundation, Inc. accepts individual donations of any amount but also has an endowed named scholarship program for those donors who prefer to make larger contributions.
There are two ways to establish named scholarships.
1. Annual Named Scholarship
Annual Named Scholarships are established on a yearly basis and can be renewed. Unlike an Perpetual Scholarship, an Annual Scholarship is not a permanent fund. The life span of this scholarship fund will be determined by the amount of the initial gift, subsequent donations, interest, and by the frequency and amount of the award.
> The minimum gift is $1,000.
2. Perpetual Named Scholarship
Perpetual Named Scholarships are established by a donation which guarantees that a contribution will live on in perpetuity because the sum is protected and only the interest is used to fund yearly scholarships. A minimum gift of $30,000 establishes a Perpetual Named Scholarship, whether it is contributed in full at the outset or with an initial commitment that is added to over time until the endowment level of $30,000 is attained. The principal of the fund is invested to produce income, and an annual award is made to a student/s from the interest earned. The award is only given once the full $30,000 is attained by the foundation.
How can I establish a Scholarship with the foundation?
Scholarships can be established in a number of ways. Donors have remembered the Daughters of Penelope Foundation, Inc. in their wills, some have established trusts in which the Daughters of Penelope Foundation, Inc is named as a beneficiary, some have considered a life income agreement, while others have donated appreciated securities. Before making a planned gift, we recommend that you meet with your attorney or tax advisor to discuss the financial and tax implications of your charitable contribution.
Donations must be accepted prior to December 31 each year in order for them to be distributed in the year following.
For further information, please contact the president of the foundation via email or write to:
Daughters of Penelope Foundation, Inc. President
c/o Daughters of Penelope Headquarters
1909 Q Street N.W., Suite 500
Establishment of a ‘Pay It Forward’ Scholarship
The Daughters of Penelope Foundation, Inc. Pay It Forward Scholarship was designed to be a vehicle for past scholarship recipients to show their gratitude and “Pay it Forward” to the next generation of Daughters of Penelope Scholarship Recipients.
This scholarship fund is expected to grow over time, as does the roster of foundation scholarship recipients. In order to establish this scholarship, we must first raise $30,000 in funds.
We need your help. Would you kindly consider donating to this scholarship fund or perhaps you would like to donate in memory of a deceased recipient? Any amount will help and there are many donation options from which you may choose.
All donor names will be listed on the Daughters of Penelope Foundation Pay It Forward Scholarship biography given to the scholarship recipients and on our website.
Further, your employer or your spouse’s employer may offer a matching gift program. This will help double your donation. All donations are tax-deductible.
Please click here for further information on the Pay It Forward Scholarship