Frequently asked questions about the WESOS Foundation Scholarship program.
Scholarship nominations must be received through our recognized 501(c)3 partners. Individual nominations will not be accepted at this time. To become a partner, please fill out the application found on www.wesosfoundation.org or encourage an organization that works with women who need a boost into financial freedom through business ownership to fill out the application. Please be aware that no finances will be given directly to the recipient. Rather, costs for starting a business or funding specific assets for an emerging business will be paid directly to an approved vendor on the recipients behalf.
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Yes. The WESOS Foundation will grant scholarships from funds raised or donated for that purpose. A maximum limit will be established per calendar year.
Applications will be received each year within an established time window from a recognized 501(c)3 partner only.
Once the applications have been received within the deadline, the Executive Director will verify the application as being within the standards for acceptance.
The Executive Director will remove all identifying information – name, address, date of receipt, forwarding charity- and assign a unique number to the application before forwarding it to the Charitable Giving Committee for assessment.
The Charitable Giving Committee will individually grade each section of each application on a scale of 1 to 10 (1 being lowest, 10 highest). All copies of each application will be given an average score. Each application number will be given average score from the committee. The highest scored application will be given the first opportunity of the year to fund their business dream. Once the first dream has been funded, subsequent dreams will be funded based on the next highest score and scholarship funds available.
Prerequisite : All mentor panel members must be Lifetime Members of WESOS.
An application must be filled out and sent to the WESOS Foundation for evaluation and acceptance. There will be a time requirement for this volunteer position. Access by cell phone, text and email must be given from the mentor for the period of one calendar year once assigned. Minimum meetings of one per month (maximum of two hours) are expected plus quarterly meetings of the mentor panel to discuss the recipients progress will be required. These meetings can be scheduled virtually for the convenience of all parties.
Once you have been accepted and you are willing to make a commitment to assist a recipient, you will fill out a biography which will be provided to the scholarship recipients from the Charitable Giving Committee based upon the skills you are comfortable sharing and which you have successfully demonstrated in your business. From the biographies provided, the recipient will assist in assembling her mentor team. You will be advised if chosen.