How to Open a Scholarship Fund at the DCF

Scholarship funds are among the most impactful and popular charitable funds established at the Delaware Community Foundation (DCF). As the cost of higher education continues to rise, many donors choose to create scholarships that help students pursue their educational goals while reducing the financial burden of tuition and related expenses.

The impact of these funds continues to grow. For the 2025–2026 academic year, the DCF awarded $851,500 in scholarships to 245 Delaware students, including both new and renewal recipients — a 30% increase in funding compared to the previous year. The DCF awarded over $1 million in scholarships for the 2026-2027 academic year.

If you are considering establishing a scholarship fund, you are likely to have questions about how the process works. Below, we answer some of the most common questions about scholarship fund requirements, eligibility criteria, fees, and the role donors can play in shaping and supporting their scholarship programs.

How much money do I need to open a scholarship fund?

The minimum is $50,000.

How much are fees for scholarship funds?

Fees are 2% and the fee schedule is on our website. 

Does the DCF host a committee that reads the applications?

Yes. We have committees — a total of about 65 volunteers — that read and score scholarship applications and choose recipients.   

If I open a fund, can I be part of the committee that reads the applications?

Yes. A fundholder can join a committee as one of the evaluators but cannot wield additional decision-making power.

Where does the DCF advertise their scholarships?

We advertise through our website, social media channels, paid ads, and local media. We also work directly with guidance counselors from across Delaware. The DCF emails them quarterly during the school year to promote applications, answer questions and speaking requests, and assist in any way to help seniors apply.

How do students apply?

The DCF uses Foundant, a scholarship management platform that streamlines the application, review, and tracking process for students pursuing scholarships. Students create an account and complete a single, common application. Once submitted, the system automatically identifies which of the scholarship opportunities they are eligible for and matches them accordingly.

A small number of scholarships require separate applications due to unique or non-traditional eligibility criteria, where much of the standard high school information collected through the common application is not applicable or necessary.

When do students apply?

With the exception of a few standalone applications, scholarship opportunities open on December 15 and close on March 15. Award decisions are finalized by early May, and scholarship payments are distributed throughout the summer until all awards have been processed. Funds are paid directly to the recipient’s educational institution rather than to the student.

Are scholarships available only to graduating high school seniors, or to all students pursuing post-secondary education?

Donors can support a wide range of students pursuing post-secondary education, including those attending two-year and four-year colleges, trade and technical schools, nursing programs, medical school, law school, and other accredited educational or professional training programs.

Can students reapply for the same scholarship every year?

Yes, but only if that scholarship is set up as a reapply. Many scholarships are one-time awards.

Does a scholarship automatically renew?

Not all scholarships automatically renew. However, scholarships can be structured as renewable 2 or 4-year awards, if recipients continue to meet specific eligibility requirements. In some cases, available funding may support only one renewable scholarship recipient at a time, meaning the scholarship may not be offered to new applicants until the current recipient graduates.

Alternatively, donors may choose to fund a new recipient each year. In this model, a four-year scholarship could support multiple students simultaneously, with a new student added annually while previous recipients continue receiving support through graduation.

Can I establish special eligibility requirements for my scholarship?

Yes. Donors may create scholarship criteria that reflect their philanthropic goals and interests. For example, a scholarship can be designated for students who graduated from high school more than five years ago who wish to begin college, graduates of a specific Delaware high school, or other defined populations.

To ensure scholarship funds can be awarded consistently, the DCF may provide guidance if eligibility requirements are so narrow that it becomes difficult to identify qualified applicants. In those cases, we may recommend broadening the criteria to maximize the scholarship’s impact and accessibility.

Can a business open a scholarship?

Yes. Several businesses across Delaware work with the DCF to offer scholarships for employees or children of employees. The DCF selects recipients based on eligibility requirements, which helps the business avoid any perception of favoritism.

Work with the DCF

Establishing a scholarship fund at the DCF is a meaningful way to invest in the future of Delaware students while creating a lasting philanthropic legacy. Whether you want to support graduates of a specific school, students pursuing a particular field of study, or individuals facing financial barriers to education, the DCF can help you design and administer a scholarship program that reflects your goals.

For information about how donors can create scholarship funds at the DCF, contact Vice President for Philanthropy & Southern Delaware Mike DiPaolo at [email protected].