Scholarship Guidelines and Criteria The Farrell Boy Foundation, Inc., a State of New York non-profit corporation (the “Foundation”), was created to provide financial and other support to students, which will include forming affiliations or other cooperative arrangements with educational institutions, making scholarship grants or other forms of support to or for the benefit of students, and conducting any other activities consistent with its organization (pursuant to its Certificate of Incorporation) exclusively for charitable and educational purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended. Who is Eligible to Apply In order to apply to the Foundation for any form of scholarship or assistance, candidates: Must either be (i) admitted to or enrolled as a full-time or part-time undergraduate student at a four-year college or university; (ii) enrolled as a full-time high school student or (iii) a graduate of a four-year college or university with existing student loan or related educational debt.For applicants enrolled in a high school or a four-year college or university, maintain a minimum 3.0-grade point average (on a 4.0 scale). Each such award winner will be required to submit a grade report for the period for which the scholarship is awarded.Complete an application, including all requested supplemental documentation. Our Selection Criteria Applicants will be selected based on the following criteria: Scholastic abilityFinancial needPersonal characterIn certain cases, based on donor-based restrictions or otherwise, selection may be limited to, or preference may be given to, those students attending Manhasset Secondary School, the University of Pennsylvania, or Villanova University.In certain cases, the Selection Committee may also consider an applicant’s athletic history, including elements of leadership and good character evidenced by such history. How to Apply In order for an application to be deemed completed and considered by the Selection Committee (as defined in the Determination of Awards Section below), it must include the following, subject to any additional requests for documentation made by the applicable educational institution receiving an award disbursement. Please note that in order to maintain such an award, the Selection Committee may request that the award recipient resubmit certain application documents following each academic semester or full academic year of such award recipient’s college/university or high school attendance, as applicable. A completed application formA signed Information Release FormEvidence of financial needTyped essay (1-2 pages) listing all honors and awards the applicant has received in high school and college/university (as applicable), a description of the applicant’s career goals, and any special personal or family circumstances affecting the applicant’s need for financial assistanceOfficial high school or college/university transcript (as applicable)SAT/ACT scores if the applicant is enrolled in high school or is a recent high school graduate unless such testing is not required by the applicable educational institution as part of its admissions processA letter of recommendation from the applicant’s academic dean, advisor, counselor, or professor/teacher, unless the applicant is a recent college/university graduate. Scholarships or financial assistance awards are announced on November 30, 2023. Completed applications and accompanying documentation must be received by October 31, 2023, in order to be considered for the present year. Apply online here Determination of Awards The selection of each award recipient shall be made either by (i) a committee duly appointed by the Foundation’s board of directors (the “Selection Committee”) through an impartial process or (ii) the applicable educational institution that will receive award disbursements. The Selection Committee shall be made up of individuals with no relationship to any applicant. The Selection Committee shall, to the extent practicable, collaborate with the Foundation’s board of directors and the applicable educational institution in order to assure consistency of the Selection Committee’s or educational institution’s (as applicable) deliberations and decision-making with the Foundation’s mission and tax-exempt objectives. Once the Selection Committee or applicable educational institution has made an award decision, it shall forward an award selection notice to the Foundation for fund disbursement. If selected as an award recipient, it is expected that the applicant or applicable educational institution will receive a monetary award, although other forms of support can be considered; provided, that any support shall be consistent with (i) the Foundation’s mission, (ii) any tax law applicable to tax-exempt organizations and (iii) any restrictions or limitations imposed by the applicable educational institution receiving such support. Generally, it is expected that the scholarship award will assist the recipient during their four years of college/university or high school, but such an award may also be provided to recent college/university graduates in order to alleviate student loans or related educational debt. The award will be provided to award recipients on a one-time basis unless otherwise specified in a written notice sent by the Foundation to the award recipient. The Foundation has full discretion and authority to change the amount and/or frequency of any award granted by it at any time with notice to the applicable award recipient; provided, that, any increase in the amount of such award will be subject to the award recipient’s acceptance of such additional amount. Award recipients will be required to submit a Scholarship Requisition form consistent with the requirements, criteria, and guidelines herein, and a Scholarship Guidelines Signature page provided by the Foundation establishing that the award recipient understands and agrees to the conditions and requirements imposed in connection with the award. In addition, award recipients will be required to submit proof of enrollment at a high school or four-year college/university and such recipients’ class schedules, if applicable. Disbursements will be sent in one or more installments either (i) directly to the award recipient or (ii) to the educational institution provided on the Scholarship Requisition form on behalf of the award recipient. The Foundation will require the award recipient or the applicable institution to provide periodic reports regarding the use of the funds and the continued good standing of the award recipient. No member of the Selection Committee, or his or her immediate family, shall be eligible for grant assistance during his or her tenure on the Selection Committee. No member of the Foundation’s Board of Directors, or his or her immediate family, shall be eligible for grant assistance during his or her tenure on the Foundation’s Board of Directors. No donor listed on Schedule B of the Foundation’s annual Form 990 (any such donor, a “Substantial Donor”), or his or her immediate family, shall be eligible for grant assistance for so long as he or she is a Substantial Donor. Record-Keeping The Foundation shall retain the following records in connection with all awards made pursuant to this policy: all information obtained by the Foundation to evaluate the qualifications of potential award recipients, the identification of award recipients (including any relationship of any award recipient to the Foundation, any Substantial Donor or any director or officer of the Foundation), the purpose and amount of each award, any additional information the Foundation obtains in complying with its awards administration procedures, and minutes of the Selection Committee meetings and deliberations. Information pertaining to unsuccessful applicants for awards shall be kept along with information on successful applicants. Records pertaining to any grant made pursuant to this policy shall be kept for no less than three years after the filing of the Foundation’s annual tax return for the period in which the last installment of such award was paid. Revisions The Foundation reserves the right to review the above conditions and procedures and may make changes to this scholarship program at any time to permit the Foundation to provide funds or other support related to educational endeavors directly to educational endowments, educational institutions, tax-exempt organizations, non-exempt organizations, or individuals through alternate means, in addition to scholarship grants; provided, however, that any such change shall be consistent with the Foundation’s charitable mission and consistent with tax law requirements for tax-exempt organizations. For More Information If you need further information or have questions about the Farrell Boy Foundation Scholarship Program, please email us at firstname.lastname@example.org.