Our high school band boosters started a scholarship similar to this one - it is always funded by the boosters. Every year the boosters budget the cost/amount of the scholarship into their budget. The boosters also sponsor two other band scholarships as well. The boosters fundraise throughout the year for various reasons, and allocate the funds raised to the various scholarships/expenses. If you want to increase the amount of the scholarship, then it needs to be increased in the band boosters' budget. You can solicit for donations through various sources, like you did here, but in the end it is revenue to the boosters, specifically designated to the scholarship. We always keep $1500 in a CD at the bank as back-up for the scholarship, just in case fundraising efforts fall short in any given year. This has never happened, and we have gone from the scholarship being $500 in the beginning to $1500 currently. Like you, I have had the pleasure to chair this committee through the boosters, and judge applications. If the scholarship is really important to the boosters, then work with them to increase the fundraising efforts in the community.
Examples of fundraising efforts for the scholarship that I have personally been part of/participated in/coordiated:
Bake sale at concerts/events
Spirit item sales
Community carnival/community events that the public can pay to attend
Car washes
Poker Run / Raffles / Games of Chance
Alumni Association Events (former band students who have graduated come back to the spring concert and play as a group - we call it the Alumni band)
March-A-thon
Possible options:
Coordinate with the JROTC from the school to do a joint fundraising effort, but you will probably get resistance because it is a band scholarship, open to band members only
Classic Car show to benefit the scholarship, or something like that
Advertising in the band's program - one page dedicated to those people/businesses that donate for the scholarship specifically
I know most of these methods are being employed by the band/boosters for the general funds at most schools, but if they aren't doing one of these things, then maybe you coordinate that event specifically for the scholarship fund.
In any event, it takes a lot of work to get people to donate money to a cause that doesn't impact them directly. The more band parents/former band parents/former band members/veterans/2A supporters/etc. you can target, the better the turnout will be.
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