In the last decade, the Bishop Montgomery scholarship program has grown from just a few scholarships to over thirty-five today. These scholarships have helped hundreds of students with tuition assistance. Creating a named scholarship is one way you can assist students and leave a legacy to Bishop Montgomery. It is also a thoughtful and meaningful way to honor a friend, family member, or a respected faculty member, coach, or administrator.
Types of Scholarship Funds
Endowed scholarship funds are designed to be permanent and perpetual; they can be created with a gift in the amount of $10,000 or more. Make a one-time gift, or fulfill the commitment over a period of time. The principal of the fund is invested in the Archdiocese of Los Angeles Investment Pool and remains untouched and the interest income is awarded annually to students. This way, the endowment can last into perpetuity.
Annual scholarships can be established with an outright gift of any amount. For example, the cost to educate one child at BMHS is approximately $15,000. A gift of this amount to a named scholarship makes for a wonderful tribute to a loved one. Unlike endowed scholarships, an annual scholarship is not a permanent fund and is awarded only as long as you (or others) choose to contribute to the fund.
Establishing Scholarship Criteria
As a scholarship donor, you have the opportunity to choose the name of the scholarship, as well as the criteria. The Bishop Montgomery Advancement Office staff is available to help you create the criteria for your scholarship, if you so choose.
Tax Benefits of Establishing a Scholarship
An outright gift in the form of cash or appreciated securities will allow you to receive immediate tax benefits in the year you make the gift to Bishop Montgomery High School.
You can also provide for your scholarship in your estate plans. Estate gifts or planned gifts are an easy way to establish a scholarship for the future without affecting your current income or assets.
Giving to an Existing Scholarship
If you are interested in providing funding for scholarship purposes, but you are not ready to establish a named scholarship, you may contribute to the Queen of Angels Tuition Assistance Fund or any of the other scholarships listed on the Scholarships page.
For more information about the scholarship program, please contact Andy Marafino, Director of Advancement at 310-540-2021 x246 or at [email protected].