Education Foundation outlines Grow Hardee scholarship endowment, cohorts and partnership opportunities with IDA

Dr. Theresa Crawford, executive director of the Hardee County Education Foundation, presented an overview of the foundation’s scholarship programs, the Grow Hardee endowment and current partnerships, and urged ongoing collaboration with the Industrial Development Authority on workforce and capital projects.

Crawford summarized the endowment that funds the Grow Hardee scholarship program and related initiatives. She said the endowment was seeded primarily with EDA funds with an IDA contribution to make the endowment whole; the fund’s balance has grown since and, she said, was "around 10 [million] right now" after recent returns. The foundation uses conservative spending rules; Crawford said the foundation draws a conservative annual amount for scholarships and program uses and has structured disbursements so recipients receive payments over multiple years.

Details provided by Crawford and staff: - The Grow Hardee scholarship pays recipients over five years (20% of the award each year) and requires recipients to establish and maintain Hardee County residency for eligibility and continued payment. The program gives additional rubric points if recipients work in Hardee County. - The foundation has completed four cohorts (cohort sizes and award totals were presented): cohort 1 (14 recipients; original ask ~$257,000; ~$150,000 already disbursed), cohort 2 (12 recipients; ask ~$170,000; ~$64,000 disbursed), cohort 3 (12 recipients; ask ~$250,000; >$100,000 disbursed), and cohort 4 (12 recipients; $128,551 award pool; payouts to begin March 2026). Cohort 5 applications open Oct. 1 and close Feb. 7; payouts would occur in March 2027 after residency and documentation requirements are met. - The foundation set a $20,000 cap per recipient beginning with the most recent cohort (the board may adjust the cap if recommended). - The foundation also administers a set of locally funded scholarships and teacher/grant programs (Grow Innovation Grants, science fair support, literacy initiatives and others) and serves as fiscal agent for a number of community donations and smaller scholarship funds.

Kristen Chapman (IDA staff) briefed the board on budget considerations. The IDA previously allocated $130,000 annually to the foundation from Ona Mine recurring funds; that agreement formally expired on June 30, 2025 and was therefore not included in the FY2025–26 draft budget. Chapman recommended forming a staff/board committee to explore a partnership framework so the IDA and the Education Foundation can align capital projects (for example, a multipurpose facility with a culinary incubator), workforce development, and recruitment strategies (including physician recruitment and CTE partnerships). Board members discussed the need to emphasize trades and certificate programs in addition to bachelor’s‑level recruitment.

Outcome and next steps: Board members agreed to have staff research partnership options and to convene a small committee of board members, foundation staff and IDA staff to bring a recommendation back to the board. The committee will evaluate possible funding, shared space and programmatic alignment between the IDA’s capital initiatives and the Education Foundation’s scholarship and program goals.