Financial Transparency

At The Weekley Legacy Project, we believe stewardship and accountability are just as important as impact. We maintain clear financial controls to ensure donations are handled responsibly and scholarship awards are documented properly.

How Funds Are Managed

All donations are:

  • deposited into the organization’s financial accounts

  • tracked and recorded with appropriate documentation

  • used only for mission-aligned program purposes

Scholarship awards are issued using traceable payment methods (such as checks or documented electronic payments) to ensure accountability.

Direct-to-Student Scholarship Safeguards

Some scholarship awards may be paid directly to recipients. Because direct-to-student awarding requires strong oversight, the organization uses additional safeguards to protect program integrity, including:

  • written scholarship policies

  • signed recipient award agreements

  • traceable payments with scholarship memo/notation

  • documented selection decisions (kept on file)

  • conflict-of-interest disclosures and required recusals

These safeguards help ensure awards are administered fairly and responsibly.

Conflict of Interest & Integrity

Selection committee members are required to disclose potential conflicts of interest. If a committee member has any relationship or connection to an applicant (family, close personal relationship, or other conflict), they must recuse themselves from reviewing that application and from any related discussion or decision-making.

Annual Reporting & Compliance

The Weekley Legacy Project completes annual filings and reporting as required, including applicable IRS nonprofit reporting forms (Form 990-series), in order to maintain financial accountability and compliance.

Scholarship Recipient Tax Notice

Scholarship funds may be taxable depending on how they are used. Scholarships applied to qualified educational expenses (such as tuition, required fees, books, and required supplies) are often not taxable; however, funds used for other expenses (such as housing, meals, travel, or personal expenses) may be taxable.

The Weekley Legacy Project does not provide tax advice. Scholarship recipients are responsible for any applicable tax reporting.

Questions

If you have questions about financial accountability or scholarship distribution safeguards, please contact us through our website.