The Kit Faragher Foundation

“Client Note 1 - The Kit Faragher Foundation1525 Josephine StreetDenver, CO 80206-1406EIN 81-0619100___________________________________________________________________The Kit Faragher Foundation awarded four Memorial Scholarships for the 2016-2017 School Year to Skylar Shelton, Martha Kibozi, Elmer Jasiel Sanchez-Diaz and Lucas Fulop. The total award was $5,000.00 each, which will be paid out at $2,500 per school year for two years. Skylar Shelton is attending Colorado Mesa University in Grand Junction, CO; Martha Kibozi and Elmer Jasiel Sanchez-Diaz are attending the University of Northern Colorado in Greeley, CO; Lucas Fulop is attending University of Akron in Ohio. The Kit Faragher Foundation also awarded a one-time $1,000.00 stipend to Luis Vasquez who is attending the University of Colorado, Colorado Springs.Recipients Name & Address Amount Date Paid/To be PaidRelationship (if any)_______Skylar Shelton$1,250.00Aug. 2015NoneP.O. Box 271Naturita, CO 81422Martha Kibozi$1,250.00Aug. 2015None5840 W. 16th AvenueLakewood, CO 80214Elmer Jasiel Sanchez-Diaz$1,250.00Aug. 2015None4500 19th Street #405Boulder, CO 80304Lucas Fulop$1,250.00Aug. 2015NoneP.O. Box 245Middlefield, OH 44062Luis Vasquez (one-time stipend)$1,000.00Aug. 2015None1430 Orchard AvenueSilt, CO 81652Skylar Shelton$1,250.00Jan. 2016NoneMartha Kibozi$625.00**Jan. 2016NoneElmer Jasiel Sanchez-Diaz$1,250.00Jan. 2016NoneLucas Fulop$1,250.00Jan. 2016NoneSkylar Shelton$1,250.00Aug. 2016NoneMartha Kibozi$1000.00**Aug. 2016NoneElmer Jasiel Sanchez-Diaz$1,250.00Aug. 2016NoneLucas Fulop$1,250.00Aug. 2016NoneSkylar Shelton$1,250.00Jan. 2017NoneMartha Kibozi$1250.00??Jan. 2017NoneElmer Jasiel Sanchez-Diaz$1,250.00Jan. 2017NoneLucas Fulop$1,250.00Jan. 2017None__________________________________________________________________________________________Skylar Shelton $5,000.00Martha Kibozi$2,875.00 + ??Elmer Jasiel Sanchez-Diaz$5,000.00Lucas Fulop$5,000.00TOTAL:$17,875.00 + ?? Skylar Shelton: In August 2015, one-quarter of the scholarships $5,000.00, or $1,250.00 was paid to Colorado Mesa University, Office of Financial Aid/Scholarships, 1100 North Avenue, Grand Junction, CO 81501, for Ms. Sheltons scholarship. The second portion of the scholarship, $1,250, was paid to Colorado Mesa University in January 2016 as Ms. Shelton met the scholarship requirements. The third portion of the scholarship, $1,250, was paid to Colorado Mesa University in August 2016 as Ms. Shelton met the scholarship requirements. The remaining one-quarter ($1,250) of the scholarship will be paid to Colorado Mesa University in January 2017 if Ms. Shelton continues to meet the scholarship requirements.**Martha Kibozi: In August 2014, one-quarter of the scholarships $5,000.00, or $1,250.00 was paid to the University of Northern Colorado, Office of Financial Aid c/o Scholarships, 1005 Carter Hall, Campus Box 33Greeley, CO 80639, for Ms. Kibozis scholarship. One half of the second portion ($625.00) of Ms. Kibozi scholarship payments was made to the University of Northern Colorado (per a Board of Directors vote) in January 2016 as Ms. Kibozi did not meet the scholarship GPA requirements but was making strong efforts. In August 2016 (again per a Board of Directors vote), four-fifths of the third portion ($1,000.00) of Ms. Kibozis scholarship payment was made to the University of Northern Colorado as Ms. Kibozis GPA did not quite meet the scholarships GPA requirement but it had improved greatly. The remaining one-quarter ($1,250) of the scholarship will be paid to the University of Northern Colorado January 2017 if Ms. Kibozi meets the scholarship requirements.Elmer Jasiel Sanchez-Diaz: In August 2015, one-quarter of the scholarships $5,000.00, or $1,250.00 was paid to the University of Northern Colorado, Office of Financial Aid c/o Scholarships, 1005 Carter Hall, Campus Box 33, Greeley, CO 80639. The second portion of the scholarship, $1,250, was paid to the University of Northern Colorado in January 2016 as Mr. Sanchez-”

“Client Note 2 - Attachment to Form 990EZ (2014)The Kit Faragher Foundation offers scholarship(s) to graduating Colorado high school seniors who will be attending any accredited two or four-year college or university. The THREE scholarships for the 2014-2015 school year were an award of $5,000.00 each, to be paid over the students first two years of their programs. The requirements to qualify for the scholarship were as follows:Applicant must have a minimum high school GPA of 2.5Applicant must demonstrate a financial need for assistance.Applicant must submit an application, official high school transcript, and a written essay, which captures their sense of personality and achievements, while describing their short and long-term goals.Notice that the new scholarship application had been uploaded to the foundations website (www.kitfaragherfoundation.org) was mailed in February 2014 to the scholarship coordinator of every Colorado school, including public and private high schools and alternative schools, which had students in the 12th grade. Once received, a subcommittee comprised of members of The Kit Faragher Foundation Board of Directors reviewed the completed applications to determine if they met the scholarship requirements. The applicant pool was narrowed down, based primarily upon the financial need of the applicants, although the activities of the applicants and their essays were also considered. The applications were then reviewed by all the members of The Kit Faragher Memorial Scholarship Selection Committee, which determined which applicants to interview. Based upon the individual interviews, the THREE scholarship recipients for the 2014-2015 school year were chosen by The Kit Faragher Memorial Scholarship Selection Committee. The decision was then approved by the Board of Directors of The Kit Faragher Foundation.In order to maintain the scholarship, the recipients must maintain a 2.5 GPA during the time period over which the scholarship is paid out, usually four semesters. Additionally, the recipients must submit a personal written assessment of accomplishments after each semester for the same time period. Transcripts and the personal written assessment must be submitted to The Kit Faragher Foundation at the end of each semester/quarter during the time period over which the scholarship is paid out. The scholarship funds may be used for tuition, books, lab fees, or other costs directly related to the degree program. The scholarship payments are made directly to the college/university where the student is attending.”

“SILENT AUCTION $7749”

“AWARD LUNCHEON $1230”

“SUPPLIES $717”

“PRINTING & POSTAGE $361”

“REGISTRATION FEES $10”

“SCHOLARSHIP COMMITMENTS - Beginning $0 SCHOLARSHIP COMMITMENTS - Ending $15375”

“Deferred Revenue - Beginning $23119 Deferred Revenue - Ending $9774”

“SCHOLARSHIP COMMITMENTS - Beginning $10000 SCHOLARSHIP COMMITMENTS - Ending $15375”