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 Julia Lombardo, Victoria Klimuk, Rafael Nieto and Michelle Medina. The total award was $6,000.00 each, which will be paid out at $3,000 per school year for two years. Julia Lomobard is attending University of Mount Union (Alliance, OH); Victi=oria Klimuk is attaneding the University of Colorado (Boulder, CO); and Michelle Medina and Rafael Nieto are attending Colorado Mesa University (Grand Junction, CO). Recipients Name & Address Amount Date Paid/To be PaidRelationship (if any)_______Julia Lombardo $1,500.00 Aug. 2016 None 16238 Snow RoadBurton, OH 44021Victoria Klimuk $1,500.00 Aug. 2016 None1719 Bonnie Brae LanePueblo, CO 81401Rafael Nieto $1,500.00 Aug. 2016 None61242 G61 RoadMontrose, CO 81401Michelle Medina $1,500.00 Aug. 2016 None14429 - 6355 RoadMontrose, CO 81401Julia Lombardo $1,500.00 Jan. 2017 NoneVictoria Klimuk $1,500.00 Jan. 2017 NoneRafael Nieto $1,500.00 Jan. 2017 NoneMichelle Medina $1,500.00 Jan. 2017 NoneJulia Lombardo $1,500.00 Aug. 2017 NoneVictoria Klimuk $1,500.00 Aug. 2017 NoneRafael Nieto $1,500.00 Aug. 2017 NoneMichelle Medina $1,500.00 Aug. 2017 NoneJulia Lombardo $1,500.00 Jan. 2018 NoneVictoria Klimuk $1,500.00 Jan. 2018 NoneRafael Nieto $1,500.00 Jan. 2018 NoneMichelle Medina $1,500.00 Jan. 2018 None__________________________________________________________________________________________Julia Lombardo: In August 2016, one-quarter of the scholarships $6,000.00, or $1,500.00 was paid to University of Mount Union, Office of Student Financial Services/Scholarships, Gartner Welcome Center, Lower Level, 1972 Clark Avenue, Alliance, OH 44601, for Ms. Longardos scholarship. The second portion of the scholarship, $1,500, was paid to University of Mount Union in January 2017 as Ms. Lombardo met the scholarship requirements. The third and fourth portions of the scholarship, $1,500 each, will be paid to the University of Mount Union in August 2017 and January 2018 if Ms. Lombardo continues to meet the scholarship requirements. Victoria Klimuk: In August 2016, one-quarter of the scholarships $6,000.00, or $1,500.00 was paid to University of Colorado, Boulder, Office of Financial Aid, Attention: Scholarship Services, 77 UCB, Boulder, CO 80309-0077 for Ms. Klimuks scholarship. The second portion of the scholarship, $1,500, was paid to University of Colorado, Boulder in January 2017 as Ms. Klimuk met the scholarship requirements. The third and fourth portions of the scholarship, $1,500 each, will be paid to the University of Colorado, Boulder in August 2017 and January 2018 if Ms. Klimuk continues to meet the scholarship requirements. Rafael Nieto: In August 2016, one-quarter of the scholarships $6,000.00, or $1,500.00 was paid to Colorado Mesa University, Office of Financial Aid/Scholarships, 1100 North Avenue, Grand Junction, CO 81501, for Mr. Nietos scholarship. The second portion of the scholarship, $1,500, was paid to Colorado Mesa University in January 2017 as Mr. Nieto met the scholarship requirements. The third and fourth portions of the scholarship, $1,500 each, will be paid to Colorado Mesa University in August 2017 and January 2018 if Mr. Nieto continues to meet the scholarship requirements. Michelle Medina: In August 2016, one-quarter of the scholarships $6,000.00, or $1,500.00 was paid to Colorado Mesa University, Office of Financial Aid/Scholarships, 1100 North Avenue, Grand Junction, CO 81501, for Ms. Medinas scholarship. The second portion of the scholarship, $1,500, was paid to Colorado Mesa University in January 2017 as Ms. Medina met the scholarship requirements. The third and fourth portions of the scholarship, $1,500 each, will be paid to Colorado Mesa University in August 2017 and January 2018 if Ms. Medina continues to meet the sch”

“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.”

“Office Expenses $105”

“AWARD DINNERS $10161”

“AUCTION EXPENSES $5905”

“PROGRAM EXPENSES $2442”

“Other fundraising expense $781”

“Administrative expenses $737”

“Meals & entertainment $165”

“PRINTING & POSTAGE $38”

“REGISTRATION FEES $20”

“SCHOLARSHIP COMMITMENTS - Beginning $15375 SCHOLARSHIP COMMITMENTS - Ending $23000”

“Deferred Revenue - Beginning $9774 Deferred Revenue - Ending $14699”

“SCHOLARSHIP COMMITMENTS - Beginning $15375 SCHOLARSHIP COMMITMENTS - Ending $23000”