About the Organization
What is Sherborn Dollars for Scholars?
Sherborn Dollars for Scholars is a volunteer-operated community-based scholarship foundation legally affiliated with Scholarship America, Inc. Citizens in our community formed Sherborn Dollars for Scholars in 1965 to provide a venue for our citizens to support the sons and daughters of Sherborn families in their pursuit of post secondary education. We raise money each year through two general appeals to the community, and distribute scholarship awards based on those contributions, as well as from income generated by our endowment. All money raised stays in the community to support our students.
Why a Sherborn Chapter of Dollars for Scholars?
Almost one-third of Sherborn college students receive some form of financial aid. Some college students graduate with mortgage-size debt that creates a tremendous financial and emotional burden as they start careers and families. Our chapter is organized to provide deserving Sherborn students with financial aid to support the spiraling costs of higher education and to recognize them for their academic excellence and community service
Who's on The Board of Directors?
The Board is comprised of 18 volunteers from our community. Each Board member serves a 3-year term. We also have 4 high school students who serve on the Board to provide ideas on marketing to students and to assist us with leveraging technology in our outreach to potential award candidates. There are several committees that Board members join, as follows:
· Awards Committee - Conducts a review of all applications and determines the number and level of awards.
· Information Management Committee – Provides database development and management, Board communications, minutes and recording secretary functions, thank you letter management. They also publish all materials required for publicity, appeals, and letters to parents
· Outreach Committee - Determines what kinds of publicity events will take place during the year, identifies promotional mailings, links with guidance office, nomination of new members, and develops web-site content
· Finance Committee - Determines the portfolio mix of our endowment, cash management, award distribution and purchase approvals
· Fundraising Committee - Determines what kinds of fundraising should be done each year outside of the general appeals to the community.
· Executive Committee – Comprised of the heads of each committee, this group develops the mission statement, by-laws, goals, liaison with National headquarters, and legal obligations)
How is Dollars for Scholars different from other local, education-related groups like CSA and DSEF?
Sherborn Dollars for Scholars (known as DFS) is the only organization of the three that provides scholarship support for post-secondary education. Our organization provides scholarships to students attending or going on to college. We are fortunate in Sherborn to have two volunteer organizations, CSA and DSEF, that support the operational and enrichment needs for the public schools in each town. CSA stands for the Community School Association and is the parent, volunteer organization of the Pine Hill School in Sherborn. CSA raises and spends more than $45,000 annually on programs at Pine Hill School. DSEF stands for the Dover-Sherborn Education Fund. It has the broad objective of enriching the educational experience of all students in all grades and all schools across both towns. DSEF raises funds from the general community and awards grants to teachers that directly support the work in the classroom.
What are the important issues facing Sherborn Dollars for Scholars in the next five years?
During the past year, our Board has spent considerable time planning for the future of Sherborn Dollars for Scholars. We discovered that our fundraising requirements have escalated significantly and are likely to continue to grow. A few reasons for this are:
· The number of applicants for scholarships increased nearly 40 percent last year, with a significant increase expected for this year as well.
· We are now able to give gifts up to $1,500 per year without causing a reduction in some other aspect of a student's financial aid package - up from $1,000 a year ago.
· We anticipate a considerable increase (close to 50%) in the number of graduating high school seniors from Sherborn beginning in 2005 and need to begin expanding our fundraising efforts to meet this growing demand.
As a result of these findings, we decided to increase our annual appeal target to $30,000. This will allow us to provide deserving Sherborn students with scholarship awards commensurate with their talents and, in a surprising number of cases, significant financial need. As many of our neighbors have discovered, the cost of a college education has more than outpaced inflation, and it is no longer just the elite, private colleges that carry a staggering $35,000+ annual price tag.
How can I participate in Sherborn Dollars for Scholars?
1. Apply - all Sherborn students that plan on or are attending post-secondary education are encouraged to apply for scholarships from DFS
2. Donate resources - Respond to our community-wide appeal letters to provide funds for the scholarships we make each year
3. Join the Board - we're currently looking for people with marketing, finance and technology capabilities and interests.