Nonprofits: The Do's and Don'ts of Granting Scholarships

College acceptance letters arrive every April with a question for students and parents. They ask, how do we pay for this? For many, the answer includes seeking scholarships from nonprofits.

Your charity may already have a scholarship program in place or may be thinking about starting one. Whatever your status, it is very important to administer scholarship programs in a certain way to ensure your donors receive deductions. The rules also vary if your organization is a public charity or a private foundation.