How to Create a Scholarship Fund on Bold.org for Free

Start a Scholarship on Bold.org

Creating a scholarship on Bold.org is a simple, impactful way to support the next generation, with a streamlined process that handles all the complexities for you.

Scholarship funds provide financial aid to students, helping them cover a range of eligible educational costs such as tuition, textbooks, and even student loans.

To ensure fairness and compliance, IRS regulations require scholarships to be awarded based on merit rather than chance and on an objective and nondiscriminatory basis. They also strictly define the types of expenses these funds can be applied to. Bold.org ensures compliance with these rules, making it easy for anyone to create and manage a scholarship fund.

In short:

• Bold.org makes the entire process simple, efficient, and accessible. Our team handles all the administrative work, from hosting the scholarship to managing applications and distributing funds.
• We help you define eligibility criteria, outline application requirements, and establish a fair and transparent selection process.
• We ensure your scholarship donations are tax-deductible through the Bold Foundation, our 501(c)(3) nonprofit organization.
• By partnering with Bold.org, you can ensure your scholarship adheres to IRS regulations without the need for extensive planning on your part.

Working with us helps you focus on making a meaningful impact while we handle the details to ensure your scholarship is successful and compliant.

Here's a snapshot of the steps to create a scholarship fund with Bold.org:

1. Create Your Bold.org Donor Account
2. Submit Your Scholarship Proposal
3. Finalize Scholarship Details
4. Fund Your Scholarship & Promote It
5. Award Your Scholarship

Keep reading to learn how to create a scholarship fund on Bold.org, along with the benefits of using our platform.

We highly recommend connecting with our Bold.org Donor Team to get started. Here’s why:

• No hidden fees — you’ll only be contributing your donation.
• Tax-deductible donations — all contributions are fully deductible through our 501(c)(3) nonprofit.
• Direct impact — 100% of your donation goes straight to deserving recipients.
• Fundraising options — easily create a page for tax-deductible donations from friends, family, and your community.
• Expert guidance — our team will help you define and launch your scholarship.
• Qualified applicants — automatically receive strong applications from eligible students.

Partnering with Bold.org gives you access to a trusted, no-cost scholarship management service with expert support every step of the way.

Follow these five easy steps to create your scholarship fund.

1. Create Your Bold.org Donor Account

Start by setting up your donor account—a simple step toward creating opportunities for students.

The first step is to create a free donor account on the platform. This account lets you create and manage scholarships. You can personalize your profile with a picture and a mission statement to share your inspiration for creating the scholarship.

Your donor account makes it easy to review applications, stay engaged with the scholarship process, and ensure a seamless and rewarding experience for both you and the students you support.

2. Submit Your Scholarship Proposal

Define the heart of your scholarship—your proposal sets the stage for making your vision a reality.

Once your account is set up, submit your first scholarship proposal.

Include key details like:

• The scholarship title.
• Potential selection criteria.
• Number of winners.
• Award amount.
• Deadlines.
• A brief description of your scholarship’s purpose.

After submission, a member of our Donor Team will reach out to discuss your proposal and ensure it aligns with your goals.

3. Finalize Scholarship Details

Shape your scholarship’s purpose and reach—work with our team to craft the perfect opportunity for students.

In this next step, you'll have a call with our Bold.org Donor Team to finalize the specifics of your scholarship.

Discuss customization options such as:

• Limiting eligibility to specific fields of study.
• Targeting students from certain backgrounds (e.g., nontraditional students, first-generation, etc).

You can use this opportunity to ask questions and refine the structure of your scholarship to match your vision.

4. Fund Your Scholarship & Promote It

Bring your scholarship to life—fund it and share its mission to inspire applications from deserving students.

Once our Donor Team drafts your scholarship based on your input, they’ll share it with you for review. Take this opportunity to ensure every detail reflects your goals and request any necessary adjustments.

After finalizing the draft, fund your scholarship with a minimum of $500, and your scholarship will go live.

Once it's live, share it with your community, including friends, family, social networks, or even community organizations, to inspire applications from passionate and deserving students.

5. Award Your Scholarship

Select the students who best reflect your scholarship’s purpose and support them in achieving their educational goals.

The final step is to select your scholarship recipient(s) and distribute the funds, ensuring everything aligns with your vision and complies with guidelines. Here’s what to do:

1. Review applications yourself or use the Bold.org Donor Team’s curated list of top candidates to simplify the process.
2. Select your finalists and winners by evaluating submissions based on the criteria you established, ensuring a fair and objective process.
3. Make your final selections in time for the announcement date to complete the process and share the exciting news.
4. Once winners are selected, your gift will go directly to the recipients. We send them a congratulatory message and immediately begin verifying their eligibility to ensure prompt award distribution.

With Bold.org’s resources and support, you can confidently select recipients who embody the mission of your scholarship.

Frequently Asked Questions About Creating a Scholarship Fund

What types of scholarships are there?

Bold.org allows donors to create a wide variety of scholarships to support students. Scholarships can be tailored to specific fields of study, career aspirations, personal characteristics, financial needs, geographic locations, or unique passions.

Unlike endowed scholarships, which rely on the invested principal for long-term funding, scholarships on Bold.org are fully funded upfront, ensuring immediate impact for recipients. You can also create general scholarships open to all students or design scholarships to target specific groups, emerging industries, or creative talents. The possibilities are as unique as your vision.

How many students can win a scholarship?

The number of winners is entirely up to you! With Bold.org, you have the flexibility to decide how your scholarship is distributed. However, each winner must receive at least $500 in funds.

For example:

• If you create a $10,000 scholarship, you could award $500 each to 20 students.
• Alternatively, you could choose fewer recipients and award larger amounts, such as $5,000 each to two winners.

This flexibility allows you to structure your scholarship to maximize its impact based on your goals.

How much money do you need to start a scholarship fund?

To create a scholarship on Bold.org, you need a minimum donation of $500. This ensures that the scholarship can be meaningful to its recipients. Donors have the flexibility to contribute more to increase the scholarship’s value or to allow for multiple winners. There are no additional platform fees, and 100% of your donation goes directly to students.

When creating a scholarship, what selection criteria can I require?

Bold.org offers the ability to set a variety of selection criteria to align with your scholarship’s mission and charitable efforts. Common criteria include:

• Academic performance (e.g., GPA or specific courses of study).
• Financial need.
• Community involvement or volunteer work.
• Career interests (e.g., STEM, arts, healthcare).
• Personal characteristics (e.g., leadership skills, creativity, or perseverance).
• Geographic location or residency.

You can even create unique scholarships with personalized criteria that reflect your goals, such as requiring applicants to write essays, create projects, or share personal stories. Our Donor Team can help ensure the criteria are clear, fair, and effective.

Is a scholarship fund tax deductible?

Yes, a scholarship fund can be tax deductible if it is established through a qualified tax-exempt organization. Contributions made to such funds may qualify for tax deductions, allowing donors to support students while benefiting from potential tax advantages. Bold.org provides a platform for creating and managing scholarship funds that meet tax-exempt requirements. It’s advisable to consult a tax professional to ensure compliance with all relevant tax regulations.

When setting up a scholarship, how does the review process work after my scholarship has been funded?

In your donor portal, you'll be able to review all of the scholarship applications you received. The Donor Team will also review each application based on the criteria you provided and will recommend some top applicants for you. In your donor portal, you're able to choose finalists and your winner(s).

Can companies create company scholarship programs on Bold.org?

Yes, companies can use Bold.org to create, manage, and award scholarships for students tailored to their unique goals and values. The platform simplifies the process, making it easy for companies to make a direct and meaningful impact.

Why Create a Scholarship Fund on Bold.org?

Creating a scholarship fund on Bold.org is a meaningful way to support students and make a lasting impact on education. Our platform makes it easy for individuals, organizations, and businesses to create scholarships that reflect their values and goals. With Bold.org, you can reach a diverse pool of applicants, ensuring your scholarship benefits students who align with your mission.

Our dedicated Donor Team supports you every step of the way, from crafting the scholarship details to choosing deserving recipients. By creating a scholarship, you’re not just giving money; you’re giving hope, opportunity, and the chance for a brighter future.