The McDonough Foundation is a volunteer organization whose sole mission is to solicit monies on an annual basis for the purpose of awarding four-year college scholarships to young men and women, employed at New Hampshire golf courses, who are attending colleges and universities of their choice. The Foundation is a not-for profit organization. Its Employer Identification Number is 02-6012491 and copies of its 501(c) 3 and W-9 are available upon request.
Any student employee, male or female of a New Hampshire golf course or club. This includes pro shop, grounds, wait, kitchen & office staff. Candidates should demonstrate promise of academic success, as well as require financial assistance. Once awarded, a McDonough Scholarship may be renewed each year for a total of four years. Annual grants are renewable, upon application, depending upon annual maintenance of academic standards and the continued need for financial aid. All candidates must be recommended by the golf club where they are in at least their second year of employment.
New applicants and previous recipients are interviewed by a member of the Scholarship Committee. Their qualifications are reviewed and an award is made, determined on meeting the criteria set forth by the Board of Directors.
No. In 2009, 35 clubs donated to the Foundation, with recipients representing 47 New Hampshire clubs.
Yes. Often scholarship recipients will attend summer school or take an internship in their chosen field between his or her junior and senior year. They are still qualified to apply for their upcoming academic year.
For the year 2016, annual fundraising receipts broke out as follows:
80% of monies raised on an annual basis go towards scholarship grants. This is possible as the McDonough Foundation is a volunteer organization with no paid administrative staff. The only expenses incurred involve the McDonough Annual Appreciation Dinner, the McDonough Annual Benefit Golf Tournament and some promotional materials. The Foundation is extremely fortunate to have donations in kind for legal and accounting services and the majority of printed promotional materials.
The McDonough Permanent Fund is an endowment fund created in April 2000 to help ensure the continuation of the scholarship program for years to come. The fund is currently endowed in the amount of $352,000, of which $282,000 has been endowed by individuals and organizations in the form of named scholarships. The balance of $70,000 represents unrestricted contributions. Citizens Investment Management Services is the custodian and investment advisor for the Permanent Fund. Interest earned on an annual basis is applied to scholarship grants.
The McDonough Heritage Society is an adjunct to the Permanent Fund that allows individuals to make bequests to the Foundation as part of their Estate Planning.
There are many ways, for example – a financial contribution, volunteer to become the McDonough Representative at your club, serve as a McDonough liaison within your local business community, inform friends of the McDonough “Mission”. Consider becoming a member of the McDonough Board.