The Felix M. and Governor Carlos G. Camacho Scholarship Foundation (the “Foundation”) is a 501 (C)(3) non-profit organization. The Foundation is operating exclusively for educational and charitable purposes. The corporation promotes the interest and welfare of the University of Guam, the Guam Community College, the Guam business community and engages in recreations, fund-raising, educational, and promotional activities regarding those institutions and that community.
The original founding members of the Foundation were the family of Felix M. Camacho including; Josefina, Juan, Dr. Luis, Eduardo, and Lourdes (spouse of the late Gov. Carlos)
Since its formation in 1985, the Foundation has provided over $163,500 in financial aid to sixty-three students. The Foundation currently grants a total of five scholarships at the University of Guam and the Guam Community College with a combined value of $9,000 per academic year.
- Promoting the interest and welfare of the University of Guam, the Guam Community College, the Guam Business Community and engage in recreational, fund raising, educational and promoting activities those institutions and that community.
- Establish and maintain any trust or other funds its Board of Directors deems appropriate to meet charitable and educational purposes.
- To buy, sell, and deal in all kinds of apparatus and all kinds of provisions, liquid and solid, required for fundraisers, parties, and competitions. For purchase, take or lease or otherwise acquire any lands, buildings, easements, or properties, real or personal, which may be requisite for the purpose or capability of being conveniently used in connection with, any of the objectives of the corporation.
- To raise monies by subscriptions, and to grant any rights and privileges to subscribers, accept donations, whether individual, firm, corporation, or organization by last will of testament, deed, or other writing within he scope of the general purposes. In no event and under no circumstance, however, shall the Board of Directors accept and gifts or undertake the administration and distribution of any funds whose use or distribution are not to be within the scope of the general purpose stated in Article II of its Articles of Incorporation.
- Making monetary distributions to organizations that qualify as a 501(c)(3) non-profit organization or other tax-exempt organization based on or substituted for the Internal Revenue Code applicable to Guam.