Our PTO started a scholarship fund and contributes to the fund base annually (investment fund held through our district administration offices). Our goal is to offer scholarships to graduating High school students that attended our elementary (first scholarship to be awarded 2009-2010). We need to have an asset policy added to our by-laws, indicating how the money can be invested (we're working on an investment policy), distributed, managed (if future PTO boards decide not to contribute to the fund base), and transferred in the event that our school closes and the PTO ceases to exist (scholarship will continue until the last Kindergarten class involved in fundraising graduates and remaining balance of the fund to get transferred to the school district). Does anyone have a similar program, policy or suggestion?
