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 2017-2018 School Year to Emily Richardson, Iralynn Carmona, Tr Garnett, and Carla Hernandez Chacon. The total award was $10,000.00 each, which will be paid out at $5,000 per school year for two years. Emily Richardson is attending the University of Cincinnati in Cincinnati, OH. Iralynn Carmona is attending the University of Colorado, Boulder, CO. Tr Garnett is attending the University of Oregon in Eugene, OR. Carla Hernandez Chacon is attending Colorado Mesa University in Grand Junction, CO. The Foundation also awarded a one-time stipend to the University of Denver in the amount of $2,000.00 on behalf of, and for the benefit of, student Kamaria Hill of Mancos, CO.”

“Client Note 2 - Attachment to Form 990EZ (2017)In 2017 the Kit Faragher Foundation awarded FOUR SCHOLARSHIPS. Three scholarships were awarded to graduating Colorado high school seniors, one of which had to be awarded to a graduating senior from a Montrose County, CO high school. The Kit Faragher Foundation also awarded one scholarship to a graduating high school senior from Geauga County, Ohio. The applicants are all attending an accredited two or four-year college or university. The FOUR scholarships for the 2017-2018 school year were an award of $10,000.00 each, to be paid over the students first two years of their programs. In addition, the Foundation awarded a stipend on a one-time basis to Kamaria Hill (University of Denver) in special recognition of her educational endeavors. 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 2017 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 FOUR scholarship recipients for the 2017-2018 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.”

“AWARD DINNERS $20414”

“Administrative expenses $2684”

“Legal & professional $2050”

“PRINTING & POSTAGE $1265”

“AUCTION EXPENSES $332”

“PROGRAM EXPENSES $329”

“SUPPLIES $184”

“BANK CHARGES $15”

“SCHOLARSHIP COMMITMENTS - Beginning $23000 SCHOLARSHIP COMMITMENTS - Ending $36000”

“Deferred Revenue - Beginning $14699 Deferred Revenue - Ending $31081”

“SCHOLARSHIP COMMITMENTS - Beginning $23000 SCHOLARSHIP COMMITMENTS - Ending $36000”