A direct contribution to Norway-Vulcan Area Schools which would be put into the district's scholarship fund. Currently we have approximately $250,000 in the fund with revenue generated through certificates of deposit at First National Bank of Norway.

• Funds managed in this account are not subject to any form of fees and all earned interest is distributed to the recipients.

A contribution to the Dickinson Area Community Foundation with provisions would also result in a designated scholarship for Norway graduates. Advantages of this option include professional portfolio management by the trust department at Wells Fargo Bank who are experienced in the administration of non-profit endowments.

• This does not guarantee a better return on investment in every case, but it makes for a better chance to maximize earnings in the long run. The foundation will also provide ‘back room' help, if needed. They will publicize the establishment and availability of the scholarship, send out checks to the recipient and help make any other necessary arrangements. There are additional tax benefits to individuals who make contributions to a community foundation. There is a 1% fee assessed for the management of the endowment.

Finally, the Norway Area Community Fund, an affiliate of the Dickinson Area Community Foundation, also manages local scholarship endowments. The fund is maintained by the First National Bank of Norway and basically offers the same types of service and benefits available through the county organization.

• Once again, there is a 1% management fee, but this is significantly offset by the bank offering certificates of deposit above normal rates. Because of the nature of investment all principal is guaranteed and covered through FDIC.