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| Dracut Scholarship Foundation |
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WHAT TYPES OF MEMORIALS ARE AVAILABLE?
1. Permanent
2. One-Time
3. General Fund
1. PERMANENT MEMORIALS
A Permanent Memorial is a donation to the Foundation of at least $10,000. The monies may be
accumulated over a four year period as defined in a following section. The donation becomes part
of the Foundation’s Endowment, which is then utilized to provide annual income to the General
Fund. Annually, the Foundation uses the net proceeds in the General Fund to award scholarships
to college bound graduates of Dracut High School.
The Permanent Memorial is individually named to honor a person (living or deceased),
organization, business, DHS Class, or the like. A Memorial reaches permanency when $10,000
has been donated to the Foundation.
Permanent Memorials are acknowledged each year in DSF’s Annual Recognition Booklet and
during presentations made at the DHS Pride Night and at the DSF Awards Night.
DOES THE $10,000 MINIMUM HAVE TO BE DONATED ALL AT ONCE?
No. Arrangement may be made with DSF to start an accumulating fund.
At the time of the initial pledge, if it can be projected that the balance of the fund will be a minimum
of $2,500 by the end of the second year and $10,000 upon completion of the pledge, the Board of
Directors can consider approval of a request by the donor that a Permanent Memorial be named
for a group, business, or individual. Monies collected from a pledge, the sum of which does not
meet the minimum of $2,500 by the end of the second year and $10,000 within four (4) years, may,
upon action of the Board of Directors, be used for annual scholarship awards.
HOW DOES A PERMANENT MEMORIAL OR AN "ACCUMULATING" MEMORIAL
CONTINUE TO GROW?
A Memorial "grows" when additional principal monies are directly contributed. Anyone can
contribute at anytime for a particular Memorial and some Memorial sponsors conduct private
fundraising activities.
2. ONE-TIME MEMORIAL
If the total monies donated in memory of a loved one amount to $1,000 or more over a twelve month
period ending March 31st, and there is no intention of establishing a Permanent Memorial, those
funds will become part of the General Fund and the honoree shall be acknowledged along with the
rest of the Permanent Memorials in DSF’s Annual Recognition Booklet and during presentations
made at the DHS Pride Night and at the DSF Awards Night.
3. GENERAL FUND MEMORIAL
If the total of all contributions received in memory of a loved one amounts to less than $1,000,
monies contributed will be put into the General Fund to be combined with other, unrelated
contributions for distribution of scholarships that June. Those donations totaling more than $100
will be acknowledged in the name of the loved one in DSF’s Annual Recognition Booklet.
Anytime you or your family wishes to remember your loved one, contributions are gratefully
welcome. Gifts of stocks, bonds, or mutual funds are also welcome and easily arranged through
any Board of Director.
HOW IS A DSF MEMORIAL ESTABLISHED?
To establish a DSF Memorial, contact Joe Lussier, the DSF President at 978-502-7322
or via email @ dracutscholarship@yahoo.com.
If, however, you wish to start a fund at the time of bereavement, it is not necessary to contact DSF
immediately. At the request of the next of kin, the funeral director will include in the obituary notice
"In Lieu of Flowers, donations may be made to the _______ Memorial Fund, Dracut
Scholarship Foundation, P.O. Box 117, Dracut, MA 01826."
This will quickly notify family and friends of your wishes. When ready, (usually after a few weeks),
the family may contact the President of DSF directly. The family's wishes as to the type of
memorial desired can be determined at this time.
| Dracut Scholarship Foundation Memorials |
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