Each year individuals recommended to serve on a Scholarship Review Committee (SRC) must be approved by the Community Foundation of North Florida (CFNF) Board of Directors. 2. SRC members must comply with the CFNF Confidentiality and Conflict of Interest Policies. 3. SRC members must disclose any personal knowledge of, and/or relationship to, a potential scholarship recipient. Any member who does have personal knowledge of and/or relationship to a potential scholarship recipient must refrain from participation in the voting process. SRC members cannot directly or indirectly derive a private benefit if any potential scholarship recipients are selected over others. 4. Scholarship recipients are to be selected on an objective and nondiscriminatory basis. 5. No scholarship covered by this policy may be awarded to any member of the CFNF Board of Directors, any substantial contributor to CFNF, any employee of CFNF or to any Donor advisor or substantial contributor to the Fund from which the award will be granted. 6. Candidates selected by the SRC will be submitted to the CFNF Board of Directors for approval.

The Community Foundation of North Florida (CFNF) holds and administers funds that provide scholarship grants to first year or currently enrolled students at a college or university of their choice. Grants made from such funds are referred to as “scholarship grants”. In accordance with this policy, CFNF has established procedures pertaining to scholarship grant awards requiring a grant cycle selection process. The selection process requires participation of the fund’s establishing Donor, named Successor Advisor, or Corporation. Donor participation is defined as: serving as the recipient selection Committee Chair, recommending individuals to serve on the selection committee, developing a grant application with recipient eligibility and awarding criteria, developing a scoring rubric for application reviewing, and promoting the application to applicable educational institution(s). Procedures pursuant to this policy shall be interpreted to ensure CFNF’s compliance with all applicable requirements of the Internal Revenue Code, including Section 4966, accompanying Treasury Regulations and guidance from the Internal Revenue Service, and may be amended from time to time.

Potential scholarship grant recipients are required to submit an application along with any requested supporting documents as CFNF may deem necessary and in accordance with a schedule determined by CFNF.

Recipients eligible for scholarship grants must be: • A current high school senior or • A currently enrolled undergraduate or graduate student at a college or university pursuing studies that meet the requirements for an academic degree or vocational certification. Recipients are to be selected on an objective and nondiscriminatory basis. Criteria established for selecting scholarship grant recipients must be applicable to accomplishing the purpose of the grant as described in the agreement creating such fund. Such criteria may include, but is not limited to the following: • Prior academic performance. • Performance of each applicant on tests designed to measure ability and aptitude for educational work. • Recommendations from instructors of such applicant and any others who have knowledge of the applicant’s capabilities. • Additional biographical information regarding an applicant’s career, academics, and other relevant experiences. Scholarship Cycle Grant Awarding Policy • Place of residence. • Past or future attendance at a specific, high school, college, or university. • Past or proposed course of study. CFNF reserves the right to impose additional, reasonable restrictions and/or requirements upon the awarding of scholarship grants and the administration of such grants. Any substantial or material changes will be made only with approval of the CFNF Board of Directors.

The CFNF Board of Directors must approve all members recommended to serve on a recipient selection committee. Donors and related persons may participate solely as members of a selection committee. No combination of donors, recommended individuals or individuals related to the donor of a fund that makes scholarship grants, may directly or indirectly control any selection committee established in connection with such fund. Every member of a selection committee charged with the evaluation of candidates for scholarship grants shall adhere to the relevant policies of CFNF as they may be adopted and amended from time to time, including without limitation a conflict of interest and confidentiality policy. Every member of a selection committee charged with the evaluation of candidates for scholarship grants shall be obligated to disclose any personal knowledge of and relationship to any potential grantee under consideration and to refrain from participation in the evaluation process in a circumstance where he or she would derive, directly or indirectly, a private benefit if any potential grantee or grantees are selected over others. No grant covered by this policy may be awarded to any member of the CFNF Board of Directors, any substantial contributor to CFNF, any employee of CFNF, or any other disqualified person as defined in IRC § 4946(a) with respect to CFNF, or, with respect to grants from a particular fund, any donor or substantial contributor to such fund or any member of a selection committee to such fund, or for a purpose that is inconsistent with the purposes described in IRC § 170(c)(2)(B).

Scholarship grants are paid directly to the educational institution by CFNF on behalf of the selected recipient and are restricted to the following expenses: • Tuition and/or fees required for enrollment and/or attendance at the qualifying institution and/or • Fees, books, supplies, and/or equipment required for course instruction at such educational institution within the meaning of IRC § 117(b)(2).

CFNF shall retain the following records in connection with all scholarship grants: all information obtained by CFNF to evaluate the qualifications of potential grantees, the identification of grantees (including any relationship of any grantee to CFNF or to staff members of CFNF), the purpose and amount of each grant, and any additional information CFNF obtains in complying with its grant administration procedures. Information pertaining to unsuccessful applicants for awards shall be kept along with information on successful applicants. Records pertaining to any grant made pursuant to this policy shall be kept for no less than three years after the filing of the CFNF annual tax return for the period in which the last installment of such grant was paid.

Grants will ordinarily be awarded for 1 or 2 academic semesters within the same academic year. A scholarship grant may be renewable for a period longer than one academic year to fulfill the purpose of the fund under which the award is established.