The Board of Directors of the Sunset Foundation is pleased to announce that we have entered into an agreement with
The Dallas Foundation, Inc. (TDF) in order to insure the continued development of the Sunset Foundation, Inc. (SFI) in perpetuity.
THE
DALLAS FOUNDATION, formed in 1929, has over $180,000,000 in assets and manages 300 individual funds, of which 20 are scholarship
funds. They have a substantial and competent staff, including those dedicated to dealing with scholarship recipients. They
have an outstanding Board of Governors, composed of business leaders, attorneys, and community leaders. Our due diligence
regarding TDF provided the Board with outstanding recommendations.
The Agreement with TDF calls for them to:
- invest
and manage the funds that are donated to SFI
- provide guidance to graduates who are recipients of scholarships
- distribute
funds to the recipients, (upon approval of the SFI Board)
- monitor compliance of the students in accordance with SFI’s
Board guidelines
- and maintain SFI’s compliance under applicable nonprofit rules and regulations.
In
other words, TDF will act as SFI’s “back office”, all of this with very little to no increase in cost.
For
more information about The Dallas Foundation, visit their website at http://www.dallasfoundation.org/.
This does NOT mean that there has been a merger and/or that SFI is being dissolved. To the contrary! This
agreement will allow the SFI Board to be even more available: to continue to set policy in selection of recipients; keep contributors
better informed of the progress of recipients; and to be more involved with our mentoring program, which is a vital part of
the overall scholarship experience.
What we will not have to do is the administrative portion of processing all of
the scholarships, which takes a considerable amount of the board’s time. Equally important, this arrangement with TDF
insures the continuity of SFI and gives maximum protection to the contributions in perpetuity.
Since SFI’s
inception in 1994, we have awarded nearly 100 scholarships to over 80 students, totaling approximately $100,000. We look forward
to awarding many more!
