Youth Prosperity Scholarship

youth_prosperity_scholarship

Nehemiah Community Foundation Scholarship Guidelines

Nehemiah Community Foundation’s Wealth Empowerment Program seeks to promote self-actualization of financial independence for all Americans choosing to be free from financial worries and the burden of debt. One of the ways we are achieving this goal is by awarding a scholarship to three talented individuals who are seeking a higher education in the fields of finance, accounting, economics, or business administration. It is our hope that these individuals will make a commitment to help underserved Americans close their wealth gap and achieve economic parity.

Scholarship Requirements
Students must:

  1. Be a United States Citizen.
  2. A resident of California at the time of your high school or undergraduate graduation.
  3. Have a cumulative GPA of 3.0 or higher on a 4.0 scale.
  4. Be accepted to an accredited four-year college or university at the time of the award.
  5. Plan to study in a field that supports a wealth empowerment practice such as finance, accounting, economics, or business administration.
  6. Commit to “Wealth for Life Principles’ and agree to teach these practices to members of underserved communities in their chosen career field of practice.
  7. Not have been judged delinquent, nor have been convicted or pled guilty or nolo contendere to any felony in any state.
  8. Not have been convicted of any second or subsequent alcohol or drug-related misdemeanor in any state within the past academic year.

Wealth for Life Principles
The Wealth for Life Principles were developed and published by the Black Enterprise Magazine researchers. They were developed by a group of nationally respected financial experts, economists, and civic leaders to assist underserved communities. The ten principles serve as a prescription for wealth empowerment for anyone seeking to improve their financial condition.

  1. I will live within my means.
  2. I will maximize my income potential through education and training.
  3. I will effectively manage my budget, credit, debt, and tax obligations.
  4. I will save at least 10% of my income.
  5. I will use homeownership as a foundation for building wealth.
  6. I will devise an investment plan for my retirement needs and children’s education.
  7. I will ensure that my entire family adheres to sensible money management principles.
  8. I will support the creation and growth of minority-owned businesses.
  9. I will guarantee my wealth is passed on to future generations through proper insurance and estate planning.
  10. I will strengthen my community through philanthropy.

Scholarship Application Process

  1. Write a 750 – 1,000 word essay explaining why you have chosen your field of study, how it supports wealth empowerment of underserved communities and the Wealth for Life Principles described above, and your plan for assisting low income and/or low wealth individuals. Your essay must be typewritten, double spaced, with a 12 point font.
  2. Provide a copy of your official high school or undergraduate transcript.
  3. Provide three letters of recommendation; two of which must be from the student’s high school teacher or university professor, the third one may be from the student’s high school counselor, or an individual knowledgeable about your community involvement. (Refer to Letter of Recommendation Guidelines.)
  4. Provide a copy of IRS Form 1040 or equivalent from most recently completed tax year ending December 31st (if tax forms from the most recent tax year have not yet been filed, please submit forms from the previous tax year). If the student is a dependent, provide a copy of parent/guardian’s tax return.
  5. Attach a cover letter explaining:
    1. Your background.
    2. University or college you plan to attend.
    3. Field of study.
    4. Reason you believe you should receive the scholarship.

Scholarship Award
Before the scholarship funds are released, students must provide proof that they have been accepted to a four-year college. The funds will be paid directly to the college. Preference will be given to students with financial need. If awarded a scholarship, recipients must enter school no later than the fall term of the year of the award.

Award Amount
Up to $5,000 will be awarded to each student.

Scholarship Request Submission
To download a copy of the application, click here. You have the option of filling in the information, and then printing it, or you may simply print the form and type the information at a later time. Handwritten copies of the form will not be accepted. In order to be considered for a scholarship, all sections must be completed and the required information must accompany the application. If information is missing, or you cannot provide the required information, your application will not be reviewed.

Contact Information
Submit all applications to:
Nehemiah Community Foundation
Attn: Scholarship Coordinator
640 Bercut Drive, Suite A
Sacramento, CA 95811-0131

Deadline
All applications must be submitted by June 1st of the year you plan to attend college.

Nehemiah Community Foundation Scholarship Application Checklist Please make sure that you include all necessary submission materials listed below:

  1. Completed application, including your cover letter
  2. A 750 – 1,000 word essay
  3. Copy of IRS Form 1040 or equivalent from most recently completed tax year ending December 31st (if tax forms from the most recent tax year have not yet been filed, please submit forms from the previous tax year). If the student is a dependent, provide a copy of parent/guardian’s tax return
  4. Official transcript from high school or college/university
  5. Three Letters of Recommendation
  6. Written proof of acceptance from an accredited college or university

Nehemiah Community Foundation Guidelines for Writing a Letter of Recommendation Applicant Guidelines
Deliver these instructions in person or electronically to your recommendation letter writers. Make sure your letter writers know your application deadline. They will be giving their sealed letter of recommendations to you for submission. It is your responsibility to ensure that your letters are submitted on time.

Recommendation Letter Writers Guidelines
Thank you for writing a letter of recommendation for this student’s Nehemiah Community Foundation Scholarship Application. Please address your letter to “Dear Scholarship Coordinator” and address the following items:

  • How long and in what capacity have you known this student?
  • Please provide your opinion of this student’s personal maturity, work ethic, and his or her workplace or classroom interactions based on your direct observation.
  • Please comment on the applicant’s specific academic and/or professional knowledge/skills/abilities (i.e. background in their specific discipline, motivation to learn, intellectual capacity, communication skills etc.).
  • Please comment on the applicant’s personal attributes (i.e. maturity, adaptability, problem solving skills, etc.).

Letters of recommendation should be forwarded in a sealed envelope to the applicant prior to the application deadline. A signature is required over the sealed flap. If the seal is broken, the applicant will not be considered.