Annual and Endowed Scholarships

Scholarships and Endowments

Interested in Establishing a Scholarship at Atlantic Cape?
Atlantic Cape Community College Foundation (Atlantic Cape Foundation) welcomes benefactors who invest in our vision to create opportunity for the residents of Atlantic and Cape May Counties. Each semester, we provide educational programs to more than 7,000 people and we are pleased to assist in the development of scholarships that will help our students.

Scholarship Process at Atlantic Cape
The Atlantic Cape Foundation solicits and manages scholarship funds.  The Financial Aid Office of the college administers the scholarship awards to students.  To be eligible for scholarships, students must complete the Scholarship Application and a Free Application for Federal Student Aid (FAFSA).  The FAFSA is used to determine a student's level of financial need.  This is particularly important for scholarships that are deemed "need-based."  Once the scholarship cycle deadline has been reached, all scholarship applications are reviewed by an internal selection committee composed of college faculty and staff.  The committee matches applicants to scholarships based on the criteria set by donors.

Donors are encouraged to establish specific selection criteria, but if the criteria is too narrow ,the college may not be able to find an appropriate recipient.  The college discusses criteria with donors if an appropriate recipient cannot be identified.

How to Establish a Scholarship at Atlantic Cape

  1. Determine the type of scholarship
    • Annual or one-time: award the entire scholarship fund in the year it is donated
    • Combination: award a portion of the funds and create an endowment with the remaining balance
    • Draw-down: a lump sum that is depleted over time
    • Endowment: an investment fund established through a donation of at least $15,000 whereas scholarship awards are the result of interest earnings
  2. Set selection criteria
    • Financial need
    • Minimum grade point average
    • Full-time or part-time student
    • Program of study
    • Incoming (new) or returning student
    • Resident requirement (ex. county of residence)
    • Other preferences such as requesting students with specific types of volunteer or work experience
    • Determine the amount awarded and number of awards
  3. Name the scholarship
    • Donors may name the scholarship in memory, in honor, or in recognition of a person or entity

Donors can establish a scholarship by completing the Pledge/Donation Form and returning it to the Atlantic Cape Foundation.  Donors will subsequently complete a Scholarship Criteria Form to indicate the scholarship selection criteria.  To indicate your interest in establishing a scholarship or endowment at Atlantic Cape, please complete the Atlantic Cape Foundation Scholarship and Endowment Interest Form.  

For more information about establishing a scholarship, please contact Maria Kellett, Associate Dean, Resource Development, at (609) 463-3670 or mkellett@atlantic.edu.

Additional Information about Endowments

An endowment is created by investing money for the purpose of generating income off the principal.  Income is distributed in accordance with the donor’s intent. The Foundation Office assumes the responsibility for communication with the donor. The Associate Director will work with the donor to assure that the terms of the endowment are reasonable and to assure ease in program administration.

  1. The minimum amount required to establish a named endowed scholarship is $15,000. However, larger amounts may be required to accomplish the donor’s objectives.
  2. The Foundation bases the dollar amount of the award on the annual interest earned from the endowment. The dollar amount of an award may vary due to fluctuations in interest rates.
  3. Endowments require one year of accumulated interest earnings to yield a scholarship award.
    • Ex. If we receive an endowment in the spring of 2019, the accumulated interest will be calculated in spring of 2020 and the scholarship award will be applied to the 2020-2021 school year.
  4. Donors should consider their selection criteria carefully. Overly restrictive criteria may eliminate all candidates and result in no scholarship awards.
  5. Please let us know the type of recognition you wish to receive for your gift.

Endowed scholarships shall be designated as restricted or unrestricted.  An unrestricted endowment is a gift to the Foundation as a whole rather than to a specific program.  A restricted endowment stipulates the endowment for a specific purpose or program.  The interest earnings from the endowment determine the amount of the scholarship award.

  • A committee of Atlantic Cape faculty and staff selects scholarship recipients from a pool of eligible student applicants.
  • Scholarships are awarded to students currently enrolled at Atlantic Cape.
  • The scholarship recipients are selected in March or April each year and the award is applied to the following school year.
  • New scholarships are advertised in the fall.
  • Students must apply for scholarships by completing an application.
  • There is an awards ceremony and reception each spring where donors and recipients can meet and discuss goals.

Endowments may be established in the name of a friend or relative, or in one or more name(s) (such as husband and wife) or for a business entity or organization.

Following the final planning session, the donor and the Executive Director of the Atlantic Cape Community College Foundation will complete the Endowed Scholarship Criteria Form and the Endowment Agreement.  These documents will serve as the permanent record for the Foundation and the College. 

To indicate your interest in establishing an endowment at Atlantic Cape, please complete the Atlantic Cape Foundation Scholarship Interest Form.  

For more information about establishing a scholarship, please contact Maria Kellett, Associate Dean, Resource Development, at (609) 463-3670 or mkellett@atlantic.edu.