Community Foundation of New Jersey

Community Foundation Celebrates 227 Students Receiving Donor Scholarships in 2014

September 12, 2014

The Community Foundation today proudly congratulated the 227 students receiving scholarships this year from funds created by donors and administered by the Foundation.

More than $1.4 million in scholarship dollars were distributed this fall – ranging from one-time awards to multi-year – making 2014 yet another year in which the Community Foundation distributed more than $1 million in scholarship dollars.

One of the students who received a multi-year scholarship, MaKayla Everroad, explained that, “the Cohen [family’s] scholarship [made] it possible for me to focus on my goal of working in pediatric nursing, rather than stressing about the financial burden of college.”  She continued, “I couldn’t have received a bigger blessing, and the Cohen family made it possible for me to work towards my dreams.”

Everroad was the first student to receive a scholarship from the Cohen family’s fund and is today a senior at Washington State University.

The Cohen family, which owned several Valpak franchises in the New Jersey and New York areas, worked with the Community Foundation to create a scholarship fund specifically dedicated to children of Valpak employees.  The fund provides $10,000 to one incoming college freshman or current student each year he or she is in college for a total of a $40,000 scholarship. The student must maintain a “B” average and submit their grades to the Community Foundation annually.

“Each of our more than 100 scholarship funds is truly unique,” explained Faith Krueger, director of the Community Foundation’s scholarship program.  “They can focus on a field of interest, a geographic region, a particular high school, or a specific degree area, among other categories.”

The Austin Hooey Scholarship is another example of a unique fund.  Austin Hooey, a longtime Chatham resident and one of the first female financial analysts on Wall Street, left $1.2 million to the Community Foundation of New Jersey for a permanent scholarship endowment for Chatham High School students.  The endowment is quite rare in that it is one of the few in the state dedicated to students of a public school.  The scholarship awards range from $5,000 to $10,000 per year for four consecutive years; the scholarship is awarded based on financial need, academic performance, and merit.

“When we work with a donor or family of donors to create a scholarship fund, we review a simple criteria sheet and discuss things such as academic merit, need, and community service,” explained Krueger.  “That’s the springboard from which a family can go out and think creatively about their scholarship fund.”

To learn more about scholarship funds at the Community Foundation of New Jersey or to create your own, please call Faith Krueger at 973-267-5533.