History & Structure

Since 1985 Blue and Gold has provided an organized structure for people to share the blessings of their lives with future generations.  Over $200,000 in scholarships have been awarded to graduates of Canby High School. Blue and Gold conducts fundraisers, accepts gifts, and invests bequests to generate revenue to fund both general scholarships as well as scholarships with given specific conditions.  These scholarships are of 3 types: annual, a desgnated number of years, or perpetual endowments.  Perpetual endowments are reviewed after 10 years to adjust scholarship amounts and refocus intent based upon existing student needs.

 

Scholarship applications are due in March and announced at Commencement.  Winners receive their scholarships after successfully completing one semester of post-secondary education and providing a copy of their grade transcript to the Blue & Gold Treasurer.

 

Fundraising receipts, donations, and bequests are invested with three different entities:  The First Security Bank of Canby, a local investment advisor, and the Southwest Minnesota Foundation. Short-term needs are held at First Security, one year of estimated scholarships with a local investment advisor and the remainder with The Southwest Minnesota Foundation.

 

The Southwest Minnesota Foundation provides an umbrella of services for Blue and Gold.  It serves as a fiduciary repository for perpetual endowments.  It also provides a wide range of investment choices and technical support for non-profit fund raising. The most notable service that The Southwest Minnesota Foundation provides is a tax deductible receipt for gifts from donors.  Its 501c3 non-profit tax status allows donors legal tax credit for gifts of all sizes. The Southwest Minnesota Foundation will issue the tax receipt but the entire amount of the gift and accrued investment proceeds (minus the 1% annual administration fee) will remains under the control of the local Blue and Gold Foundation.