Washington Administrative Code
Title 250 - Student Achievement Council
Chapter 250-69 - Community scholarship matching grant program
Section 250-69-030 - Program definitions
Current through Register Vol. 24-06, March 15, 2024
(1) "Matching award" means the state appropriated funding for two thousand dollar grants available to selected eligible community scholarship foundations that raise at least two thousand dollars for student scholarships.
(2) "Community scholarship foundation" means a nonprofit, tax exempt 501 (c)(3) Internal Revenue Service Code, community-based organization, formed in part or in full for the purpose of providing higher education scholarships for local residents.
(3) "Higher education scholarship program" means a program which would provide awards to community residents to attend institutions of higher education in Washington state.
(4) "Washington institutions of higher education" or "institution" means a degree-granting college or university in the state of Washington whose campus or branch campus is physically located in the state of Washington, and who is accredited by a nationally recognized accrediting body. The recognized accrediting bodies are:
(5) "Board" means the higher education coordinating board. When a duty or responsibility of the board is referenced in this chapter, the authority needed to discharge that responsibility lies with the executive director or his or her designee.
(6) "Washington resident" means a resident as defined in RCW 28B.15.012(2)(a) through (d) and board adopted rules and regulations pertaining to the determination of Washington state residency.
(7) "New money" means funds raised during a twelve-month period designated and described in the annual program application. These funds cannot include interest income from endowments or interest from other funds raised previous to July 1 of the year of application.
(8) "Permanent and irrevocable scholarship endowment fund" means contributions received and deposited into an investment fund with the permanent purpose of using only the interest earnings from the principal of the contribution for the scholarships.
Statutory Authority: RCW 28B.240 and .370 [28B.80.240 and28B.80.370 ]. 03-04-101, § 250-69-030, filed 2/4/03, effective 3/7/03. Statutory Authority: RCW 28B.80.180. 90-09-003, § 250-69-030, filed 4/5/90, effective 5/6/90.