The National Hero Legacy Scholarship Fund: Protecting the Future

A crisis shouldn’t have the power to derail a child’s dreams. At the Larry Pickett Foundation, we believe the children of heroes and survivors deserve a path forward defined by opportunity, not by the tragedy their family endured.

The National Hero Legacy Scholarship Fund provides educational grants designed to ensure that a family’s journey through recovery never limits a child’s access to a future. We bridge the gap between the cost of higher education and the financial reality of a family in restoration.

Investing in the Next Generation

Traumatic events create long-term financial ripples that can make saving for college or vocational training feel impossible. Our scholarship fund is a promise to the families we serve that their children’s education remains a priority.

• Educational Flexibility: Grants support tuition, books, and fees at accredited two-year colleges, four-year universities, and accredited trade or vocational schools.

• Removing the Financial Ceiling: By addressing the long-term cost of education, we allow children to pursue their passions without the burden of excessive debt resulting from a family crisis.

• A Legacy of Support: These funds ensure that a survivor or hero’s legacy is felt through the success of the next generation.

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The Legacy Partnership: Educational Earmarks

We provide a structured Educational Earmark pathway under our board-approved 85/15 Impact Model. Some survivors, especially those facing a life-changing diagnosis or injury, may choose to request a scholarship fund option for their GoFundMe Pro fundraising campaign. This allows families to designate a portion of their campaign specifically for their children’s future.

1. Upfront Election Required

To ensure total transparency with our donors, any intent to earmark funds for a beneficiary’s children must be elected and discussed at the initial intake phase. The educational goal must be a stated part of the campaign’s mission from day one. We do not transition funds into educational accounts “after the fact.”

2. The 85/15 Stewardship Rule

To maintain the Foundation’s ability to provide professional advocacy, secure 501(c)(3) tax-deductibility, and manage the complex legal and fiduciary requirements of long-term educational grants, our 85/15 Impact Model applies to all contributions:

• 85% (The Grant): This portion is Purpose-Restricted and legally bound to the beneficiary’s educational future. It is held in a secure sub-ledger and is dedicated solely to bridging the gap for tuition, books, and vocational fees, ensuring the donor’s intent is protected for the life of the fund.

• 15% (Operations & Advocacy): This portion serves as the Professional Engine of the Foundation. It fuels our ability to host high-security campaigns, manage automated donor receipting, and execute the eventual transfer of funds to academic institutions. Beyond campaign logistics, this 15% covers the “lights-on” costs of running a 501(c)(3)—including federal regulatory compliance, annual audits, and the cinematic storytelling required to turn a local hero’s story into a national movement. By reinvesting in this infrastructure, we ensure our Virtual Advocacy Strike Team is always ready to manage the administrative burden so the family can focus on their recovery.

3. Immediate Fulfillment (The 529 Transfer)

The Larry Pickett Foundation does not hold educational funds in a “perpetual trust.” Once the campaign concludes and the 85% grant for education is finalized, the Foundation fulfills its mission by transitioning those funds into a State-Managed 529 College Savings Plan or a designated educational trust in the beneficiary’s name. This ensures the money is legally secured for the child immediately, while allowing the Foundation to focus its resources on the next mission.

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Eligibility & Stewardship

• Eligibility: The Legacy Scholarship Fund is available to the natural children, step-children, or legally adopted children of a designated “Larry Pickett Foundation Hero” or survivor.

• The Success Earmark: A scholarship fund is established as a “Legacy Goal.” Upon the successful closure of a High-Impact campaign where immediate medical and recovery needs have been met, surplus funds may be transitioned into the educational earmark as agreed upon during intake.

The Foundation Advantage: Professional Oversight

Managing a child’s future while recovering from a crisis is an immense burden. The Larry Pickett Foundation provides the professional framework to make it simple:

• Tax-Deductibility: Unlike a personal savings account, every contribution to the Scholarship Fund is 100% tax-deductible for the donor.

• Employer Matching: Most corporate matching programs will contribute to our scholarship fund, potentially doubling the educational resources available to the child.

• Fiduciary Responsibility: Our Board of Directors oversees the fund, ensuring every dollar is protected and used strictly for its intended purpose.

The Full-Circle Legacy

We don’t just help a family survive; we help them build. By securing a child’s education, we honor the original hero by ensuring their bravery leads to a legacy of knowledge and opportunity.