Frequently Asked Questions
Q: What is the McDonough Scholarship Foundation?
A: The McDonough Foundation is a volunteer organization whose sole mission is to solicit monies on an annual basis for the purpose of awarding 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 forms are available upon request.
Q: Who is qualified to apply for a McDonough Scholarship Grant?
A: Any student employee, male or female, of a New Hampshire golf course or club, may apply. This includes pro shop, grounds, wait, kitchen, and office staff. All candidates must be recommended by the golf club where they are in at least their second year of employment and must demonstrate the 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.
Q: How are scholarship recipients chosen?
A: New applicants and previous recipients are interviewed by a member of the McDonough Board of Directors on an annual basis. Candidates must maintain a minimum GPA of 2.5 and continue to show financial need. Their qualifications are reviewed and an award is made based on meeting the criteria set forth by the Board of Directors.
Q: Does the amount donated by a given club have any bearing on the amount awarded to an employee or employees?
A: No. In 2020, 19 clubs and assocaitons donated to the Foundation, with recipients representing 27 clubs.
Q: If a scholarship recipient does not return to his or her employing club, are they still qualified to apply for a scholarship grant the following academic year?
A: Yes. Often scholarship recipients will attend summer school or take an internship in their chosen field. They are still qualified to apply for their upcoming academic year.
Q: What are the Average Total Annual Awards?
A: Over the past fifteen years, total annual awards have averaged $109,000. A total of $2,873,310 has been awarded since the inception of the program.
Q: What are the Foundations primary sources of revenue?
A: The Foundation has an annual average revenue of $130,000, of which on average, approximately $90,000 is generated through New Hampshire golf club contributions. Additional revenue is a result of contributions made by individuals, the New Hampshire Golf Association, the New Hampshire Senior and Profile Senior Golfers’ Associations, the New Hampshire Chapter of the New England Professional Golf Association, and the New England Senior Golfers’ Association, together with income derived from the McDonough Annual Benefit Golf Tournament and investment income from the McDonough Permanent Fund.
For the year 2020, total annual revenue of $132,500 broke out as follows:
Club Donations 55%
Transfer from Permanent Fund 23%
Associations and Corporations 5%
Individual Donations 12%
Dividends and Interest 4%
Memorial Donations 1%
Q: What percent of annual donations actually go towards scholarship grants?
A: 89% of monies raised on an annual basis go toward the scholarship grants. This is possible as the McDonough Foundation is a volunteer organization with only one paid administrative staff member. From time to time expenses incurred involve the McDonough Annual Dinner, the McDonough Annual Benefit Golf Tournament, and some promotional materials. The Foundation is extremely fortunate to have donated legal and accounting services and the majority of printed promotional materials.
Q: What is the McDonough Permanent Fund?
A: The McDonough Permanent Fund, currently valued at $847,000, is an endowment fund created in April 2000 to help ensure the continuation of the scholarship program for years to come. To date, 18 named scholarships have been endowed with contributions by families, individuals, and organizations in honor of an individual who was or is deeply committed to golf, and the education of New Hampshire youth. The annual interest earned from these named scholarships, together with unrestricted gifts, is applied to annual scholarship awards. Cambridge Trust Wealth Management is the custodian and investment advisor for the Permanent Fund.
Q: What is the McDonough Heritage Society?
A: The McDonough Heritage Society is an adjunct to the Permanent Fund, which provides an opportunity for individuals to make bequests to the Foundation as part of their estate planning. Bequests and other planned gifts are important sources of revenue to the Foundation and when received, become part of the Permanent Fund or designated as specified by the grantor.
Q: How can I help and or get involved?
A: There are many ways. For example: Making a financial contribution, volunteering to become the McDonough ambassador at your club, serving as a McDonough liaison within your local business community, or informing friends of the McDonough “mission.” Consider becoming a member of the McDonough Board.