I and some other filmmakers are looking to establish a scholarship?

Question

fund to honor one of our fellow filmmakers who died unexpectedly this year.

None of us has ever done anything like this before so we'd appreciate any serious advice on getting started, how to best go about singling out a worthy young filmmaker to receive the award and what are some ways to raise the scholarship money. Should we go through a school or college (perhaps the school the filmmaker we're honoring went to), or can we simply make an announcement through filmmaking organizations and award the scholarship to one of the applicants who applies.

Any serious, worthwhile advice is appreciated.

Answer 1

Your best bet is to go through the institution, to begin.

You will have to speak with a rep on campus to determine the minimum amount to establish the scholarship, and you will have to list the eligibility requirements, and criteria used to select a winner out of the applied candidates.

What you are doing is fantastic, and I wish you all the best of luck!

Answer 2

Do you have the money you want to award?  If so, go to the colleges alumni dept or whoever runs their endowments to see if they could give you some suggestions as to how to award the money.