How to start a scholarship fund in your name with zero mistake
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To set up an endowed scholarship, you’ll need a contribution of at least $25,000. You can also work with a school or university to develop an academic scholarship, though most have a minimum fund. Keep it short and to the point, so people will learn its purpose without extra information.
Come up with a name.
I know that some people hate committees, but in this case, the committee is a good thing. To start a fund, $1,000 is required with the promise of future yearly donations of at least $1,000 for the following ten years. Present the written program in a board meeting and get it approved. Purpose you have to decide for what purposes the money may be distributed and spent.