What if I am not selected as a winner?
All entries become the property of The Dale Earnhardt Foundation and will not be automatically re-entered for consideration again. However, you may re-submit your entry for consideration again. A new entry form and other materials must be submitted for each year you enter the competition.
If I’m selected as a winner, how do I receive the cash award and how must I use it?
Each winner will receive a $7,000 grant, in one of the following ways, depending on their age, educational needs or type of organization.
- If the winner is a minor (under the age of 18), hey can choose to have their cash award held in a special scholarship escrow account until they enter a secondary school of their choice. If the parent or legal guardian of the winner chooses to take the cash award before the winner turns 18, the cash award will be issued along with an IRS Form 1099 and must be reported as taxable income.
- If the winner is 18 or over and enrolled into an approved secondary school, college or university, the cash award may be paid directly to school in support of the winner’s tuition.
- If the winner is a non-profit 501(c)(3) organization, the cash award will be in the form of a one-time only grant in direct support of the problem and/or solution outlined in their application.
If I’m selected as a winner, but have no plans to pursue a secondary education, will I still receive the cash award?
Yes. However, there are a few stipulations. The cash award may be used by another person in your immediate family who is pursuing a secondary education. “Immediate family” in this case consists of parents, siblings, children or grandchildren. You may also elect to use the cash award as a grant to assist with implementing the solution in your winning entry. If you choose this option, the cash award will be given, along with an IRS Form 1099 and you will have to report the award as taxable income.