A fund is a reserve of capital set aside specifically to support scholarships. Sponsors can create a fund to facilitate the collection of contributions from their network, family, friends, or colleagues, leveraging their community to increase the impact of their scholarship. Funds are especially useful when sponsors want to engage others in their mission to support students.
A fund acts as the financial foundation for a scholarship. Once a fund reaches the minimum threshold of $500, it can be used to create or support a scholarship. A fund allows sponsors to raise money before a scholarship is formally launched and helps sustain it for years to come.
The ENS platform also enables sponsors to crowdfund scholarships, allowing anyone to contribute to the cause through tax-deductible donations. This makes it easier for sponsors to rally additional support and grow their scholarship’s financial base over time. Funds can be open for single or ongoing contributions, allowing sponsors to continuously build up the resources needed to offer scholarships in future cycles.
When crowdfunding is combined with an impactful campaign to directly fund an active awarding scholarship, sponsors can use that momentum to scale their efforts to support more students over time.