Many Private Foundations also give out large
amounts of money annually. They do this because, by law, to qualify for 'tax-exempt'
status they must give away at least 5% of their total assets. They then use this 'donation'
as a Tax Write-Off, so it pays for them to do it.
It also pays you! This is Free Money. You can use this money for Going to college (Undergraduate, Post Graduate, Vocational, Technical even Private School!) Also these grants can be used to pay any kind of education related expense.