To acknowledge the time and effort involved in the preparation of applications, the minimum award amount to nonprofits is $1,000. Faculty members receive additional support through the Scripps Howard Center for Civic Engagement. The Mayerson Student Philanthropy Project involves students in systemic evaluation efforts and has been collecting data since its inception in 1999.

Through a competitive process, $5,000 grants are awarded to college courses infused with a philanthropy component to provide students with the intellectual knowledge and practical experiences needed to manage philanthropic funding. Each course awards $4,500 to local nonprofits (501(c)3) as chosen by the class and $500 may be used by the course for administrative expenses.

Students in the course identify community needs and research the nonprofit sector through interviews and site-visits in an effort to select local nonprofit organizations that meet that need. Students issue and evaluate RPFs and engage in a group decision-making process to award funds. In addition, students are required to serve at least 15 volunteer hours with a nonprofit agency during the course.

Participating campuses can apply for funding for up to 4 courses and must demonstrate institutional commitment through the formation of a campus team. The campus team is made up of the following roles: the campus liaison, a development officer, a community liaison, and all participating faculty. At the end of each term, participating students, faculty, and community partners complete an assessment in an effort to advance knowledge and practice in the area of student philanthropy.

Funding for Pay it Forward is made possible through the generous support of the Corporation for National and Community Service: Learn and Serve America.

Students have the ability to designate investment pools for the money and make recommendations for grant awards. Only Internal Revenue Code Section 501(c)3 public charities are eligible to receive funding. The Gift Fund provides general account maintenance services and services related to verification of tax exemption for recommended nonprofits free of charge.

Students determine the philanthropic mission for DAFs, conduct community needs assessments, design and issue Requests for Proposals (RFPs), and make award determinations. Each class is asked to distribute between 50-75% of the fund, with a focus on retaining some funds for additional cycles and on replenishing accounts. The intention of the program is to provide colleges with a vehicle for charitable giving that can be used as an educational tool for the long term. To acknowledge the additional resources necessary to successfully incorporate a giving component into a course and administer a grant competition, the Gift Fund also provides colleges with a $3,000 administrative stipend.

Participating colleges have a team of people involved in the project including campus communications directors, development directors, faculty, and students. Each college is also required to provide a letter of support from the president. Colleges participate in common evaluation efforts and efforts to collect and disseminate best practices.