Financial Status and Goals
The Billy Galindo Inspirational Scholarship Board would like to thank all donors for their financial contributions to this Scholarship in Billy’s name. The 2016 and 2017 Scholarships were $1,000 , the 2018 Scholarship was $2,000, the 2019 Scholarship was $2,500, the 2020 Scholarship was $3000, the 2021 Scholarship was $4000, the 2022 and 2023 Scholarships were $5000, and the Board is happy to announce that the 2024 Scholarship, presented on May 15th, again was $5000.
To be transparent, the Board’s strategy is to create and fund a Scholarship that will be awarded from the interest earned on the donated funds thus allowing us to reach and maintain a given Scholarship funding level in perpetuity.
The Board had set a goal of raising $100,000 which would allow a $5,000 Scholarship to be granted in perpetuity to a deserving IVC senior. With funds raised to-date from many generous donors, and from growth on the funds in the investment account which now totals $159,000, we have exceeded this goal and the amount awarded annually will be at least $5,000. And given that the goal has been achieved, the Board has concluded that the 2022 Golf Outing was the last such fund-raiser. Of course, donations, memorials or legacy gifts can be made via the web-site or by contacting one of the Board members whose contact information is listed on the web-site.
Community Foundation of Central Illinois (CFCI)
All cash donations are deposited into the Billy Galindo Inspirational Scholarship Fund which is a part of CFCI’s overall financial portfolio. CFCI is a non-profit (501c3) organization. For additional information about CFCI, visit their website at communityfoundationci.org