Scholarships
SPSCC Foundation scholarships make tuition affordable and college accessible for students.
SPSCC will be closed on Monday, Jan. 20 for the holiday.
SPSCC Foundation scholarships make tuition affordable and college accessible for students.
With an SPSCC Foundation scholarship, I'm able to attend college full-time.
Crystal Hearitige
Francis Naomi Wilson Endowed Scholarship Recipient
The SPSCC Foundation proudly awards more than 400 scholarships every academic year, helping students pursue their educational dreams. Scholarships help cover a student’s tuition and fees and are awarded through an open application process. We award two types of scholarships:
Annual Scholarships – funded by annual donations, these scholarships vary in amount based on the donation and are awarded annually as funds are available. Scholarships may be one-time offerings or renewed and awarded annually; and
Endowed Scholarships – sustained by earnings from an invested (endowed) donation. Once fully funded and matured, a scholarship is awarded every academic year, with amounts adjusted based on the account’s value.
Annual Scholarships are a way to make an immediate difference in a student’s life. They are fully awarded each year based on donor contributions and provide critical support to students. Whether you want to renew your support annually, offer a one-time scholarship to honor a special occasion, memorialize a loved one or to supplement a scholarship endowment while it matures, annual scholarships give you the flexibility to make an impact right away.
Starting an Annual Scholarship
It takes a minimum contribution of $1,500 to establish a stand-alone scholarship. For smaller donations, you can contribute to our Student Success Scholarship fund, which pools donations to award larger scholarships for students.
All Foundation scholarships are awarded via an open application process and a standard set of criteria. You may choose to designate your scholarship for a particular field or area of study.
Annual Scholarship Awarding Practices
Contributions to an annual scholarship incur a Processing Fee of 5% at the time the donation is received. All remaining funds will be fully spent as one or more scholarships (per your preferences) in the same fiscal year that we receive them.
Scholarship endowments are significant contributions that are invested, generating earnings. Endowed gifts can be donated all at once or in multiple installments over a few years. Once the endowment is fully-funded and has had time to mature (typically 3-5 years), a portion of the earnings is utilized each year to award one or more scholarships.
Unspent earnings remain in the endowment to foster continued growth. The original donated amount, known as the corpus, remains intact and can continue to grow through additional contributions.
Starting a Scholarship Endowment
Scholarship endowments require a minimum contribution of $25,000, payable either in a lump sum or spread over a period of up to five years. After reaching full funding, it typically takes 3-5 years for the endowment to mature and generate enough earnings to fund a scholarship. Once the endowment is mature, a portion of the earnings is withdrawn each year to award as you have directed.
If you want to begin awarding a scholarship right away, you can choose to make an additional contribution to fund annual scholarships while your endowment matures. These additional funds are fully awarded each year and do not contribute to the corpus of your endowment.
Endowment Spending Policies
Once an endowment is mature, our Finance Committee (made up of Foundation Board members) can elect to withdraw up to 5% of the 3-year rolling average of the endowment’s market value for scholarship awarding.
Contributions to an endowment do not incur a fee at the time of the donation. However, endowments incur an annual fee of up to 5% of the 3-year rolling average of the endowment’s earnings.
Your scholarship can make an immediate and lasting impact on the lives of SPSCC students. Whether you're honoring a loved one or creating a legacy of support, your contribution helps build a stronger Puget Sound community.
Connect with us to learn more about how you can establish a scholarship and make a difference in the future of our students and the region. Contact us at foundation@spscc.edu or call 360-528-5430.
If you are interested in supporting SPSCC scholarships without creating a new scholarship, you can also consider giving to the general Student Success Scholarship Fund.
Our scholarship opportunities are made possible thanks to the incredible generosity of our donors, community supporters, and local businesses. Your contributions help amplify student success, turning dreams into reality and creating a lasting impact in our region. We are deeply grateful for your commitment to empowering the next generation and making the sound of success resonate throughout our community. Together, we are building brighter futures.
As a 501c3 nonprofit organization, your donation to the SPSCC Foundation may be tax deductible to the fullest extent allowable. SPSCC Foundation's tax ID is EIN #91-1174940.
Gifts to the SPSCC Foundation incur a Processing Fee to support general operating funds. The Processing Fee is assigned at a rate of 5% for all non-endowed restricted and unrestricted donations at the time the gift is received.
Additionally, endowments incur an Endowment Fee at a rate of up to 5% annually on the earnings of the endowment based on a 3-year rolling average. The SPSCCF Finance Committee may recommend to the Board of Directors adjustments to the Endowment Fee based on the value of the fund above corpus at the time the fee is calculated.