2. Gruver Farm Scholarship Foundation
Formation:
March 26, 2012
Non-Profit 501 (c) (3) corporation
Purpose:
Provide opportunities for higher and vocational educations for the students of the Gruver Independent School District
Provide positive motivational incentives to encourage academic and extracurricular success for all types of GHS students

3. Gruver Farm Scholarship Foundation
Cost to form the Foundation:
Underwood Law Firm handled all the 501(c) 3 paper work for a cost of $5,000.

4. Gruver Farm Scholarship Foundation
Foundation Board:
Leases the Gruver ISD school farm each year
Selects a lead farmer to farm the land with the revenue going to the Foundation’s scholarship program

5. Gruver Farm Scholarship Foundation
The Foundation will pay scholarships according to the Gruver Farm Scholarship merit point system.

6. Gruver Farm Scholarship Foundation
Scholarship Point System:
All points will be merit driven.
All programs are to be treated equally.
No programs or courses will be weighted.
The point system will be reviewed as needed by a committee of the campus principals, superintendent and the Foundation Board.
The points will be certified each year by the appropriate staff member.

7. Gruver Farm Scholarship Foundation
The Role of the GISD Administration:
Provide to the Foundation Board a list of students and their total points using the Gruver Farm Scholarship merit point system.
The Foundation Board will use the list to calculate the percent of available funds to be paid to each student.

8. Gruver Farm Scholarship Foundation

9. Gruver Farm Scholarship Foundation

10. Gruver Farm Scholarship Foundation
Foundation Revenue:
All revenue from the farm will be paid first to the farm working capital fund.
At the end of each harvest, the balance of the working capital fund will be equal to two years working capital needed to run the farm.

11. Gruver Farm Scholarship Foundation
Foundation Revenue:
The 2013 and 2014 revenue of the farm after paying the working capital fund will be invested into a permanent fund under the management of a larger foundation.
In 2015, after paying the working capital fund, the remaining revenue will be distributed part to scholarship fund and part to the permanent fund.
The amount of distribution will be established by the foundation board after each harvest.

12. Gruver Farm Scholarship Foundation
Distribution of Scholarship Funds:
Students will earn points on a merit basis for each year at Gruver High School.

13. Gruver Farm Scholarship Foundation
Distribution of Scholarship Funds:
As funds are available, the foundation will only pay a portion of semester tuition and fees up to an amount equal to the previous year’s 16 semester hours’ tuition and fees for WTAMU.

14. Gruver Farm Scholarship Foundation
Distribution of Scholarship Funds:
The foundation will only pay for 8 consecutive semesters of a four-year university or 4 consecutive semesters of a community, junior or vocational college.
The foundation will not pay for post graduate or post certification classes.

15. Gruver Farm Scholarship Foundation
Distribution of Scholarship Funds:
The student’s first semester funds will be paid after the student presents proof of hours enrolled.
The following semester’s funds will be paid after presentation of the previous semester’s grades and proof of the next semester’s hours enrolled.

16. Gruver Farm Scholarship Foundation
Distribution of Scholarship Funds:
The foundation will pay directly to the student from the presented bill after proof that all other college funding sources have been applied to the bill.

17. Gruver Farm Scholarship Foundation
Distribution of Scholarship Funds:
Gruver High School will start tracking scholarship points with the freshman class.

18. Gruver Farm Scholarship Foundation
Distribution of Scholarship Funds:
The Foundation will only pay for fall and spring semesters.