How do we record scholarship money?

by Sherry

I am a church employee who was recently awarded a scholarship by an outside organization for training in Grant Writing and Quickbooks.

The award committee, however, has notified me that the scholarship check will be made out to the church I work for, not to me personally.

The church will then make a check out to me for the exact amount of the scholarship, to cover the cost of the classes. My question is, how does the church record this transaction, and what, if any, are the tax implications?

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