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Online scholarship fund raises more than $10,000 for future photographers

Being able to preserve his legacy seems like the best thing we can do, Palmer said. Duane Bonifer, chairman of Kernel Press Inc., said that although the fundraising and planning is still preliminary, he may speak to the Kernel Board about awarding the first scholarship in the fall of 2015. The thought is that this is a great way to memorialize his life and contributions, Bonifer said. It helps future generations of photographers. Typically an endowment scholarship takes a year, as it needs to be invested and generate interest that will fund the award, Bonifer said. But as a $10,000 endowment fund can usually expect to generate about $500 annually, Bonifer said it may be available for the next school year. The general rule of thumb, he said, is that the scholarship will be up to five percent of the lump sum raised. So the amount received by each photographer will depend on the amount of money raised, he added, though the hope is that with each year, the contributions to the fund will grow and the scholarship will increase.
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