Folds of honor scholarship

Folds of Honor is a nonprofit organization that provides educational scholarships to the spouses and children of military service members who have been killed or disabled while serving in the U.S. Armed Forces. The scholarships aim to support these families in achieving their educational goals.

Scholarship Overview

• Eligibility: The scholarship is available to children and spouses of service members who were killed in action, died with a VA disability rating, or are disabled due to service. Applicants must maintain a minimum GPA of 2.0 across their two most recent academic terms32.
• Award Amount: Scholarships can provide up to $5,000 per academic year, but the maximum disbursement per term is capped at $2,500 for full-time students and $1,250 for part-time students. If a student’s unmet need is less than these amounts, only the actual need will be funded12.
• Application Process: The application window opens annually from February 1 to March 31. All applications must be submitted through the Folds of Honor online portal. Documentation cannot be submitted via mail, fax, or email21.
• Reapplication Requirement: Students must reapply each year they wish to receive funding. Notifications regarding scholarship offers or denials are typically sent out by mid-July23.

Important Guidelines

• Unmet Need: The scholarship is based on “unmet need,” which means that the amount awarded will depend on the student’s financial situation and school account balance12.
• Payment Structure: Funds are sent directly to the educational institution rather than to the student. Payments are made during three specific windows throughout the academic year: July/August (Fall), December (Spring), and April/May (Summer)12.
• Academic Requirements: To maintain eligibility after receiving an award, students must provide transcripts showing a GPA of 2.0 or higher for two consecutive terms (Fall and Spring) following their award acceptance13.

Folds of Honor emphasizes its commitment to supporting military families in their pursuit of education, helping them honor their loved ones’ sacrifices through academic achievement.

Folds of Honor scandal what happened?

The Folds of Honor organization has faced scrutiny regarding its financial practices and governance, leading to allegations of mismanagement. Here are the key points surrounding the situation:

• Financial Transparency Concerns: Critics have raised questions about the high salaries of executives, particularly CEO Dan Rooney, whose compensation was reported at $478,006 in 2022. Additionally, discretionary bonuses were awarded to several employees, which some view as excessive given the organization’s nonprofit status1.
• Fund Allocation Issues: Reports indicate that a significant portion of donations does not directly fund scholarships. Although Folds of Honor claims that 91% of donated funds go to scholarships, some sources suggest that actual disbursement may be lower due to operational costs and executive compensation15.
• Related Party Transactions: The organization has been criticized for its financial ties to entities associated with its leadership. For instance, payments made to the Patriot Golf Course and other related entities raised concerns about potential conflicts of interest and the appropriateness of these transactions within a nonprofit framework1.
• Governance Structure: While Folds of Honor has policies in place for conflict of interest and whistleblowing, the effectiveness and enforcement of these policies have been questioned in light of the financial practices observed1.

These issues have led to calls for greater accountability and transparency within the organization, as stakeholders seek assurance that donations are being used effectively to support military families.