Starting a sports scholarship fund

I recently went to work for a recruiting service where I(for a fee) help high school student athletes receive athletic scholarships. This is a tremendous service that all parents want and need. Unfortunately, not all parents can afford the service. I am wanting to start a sports scholarship fund for these less fortunate student athletes. My plan is to receive tax deductible donations from businesses to support this endeavor. Does this seem workable or is there a conflict of interest on my part. I have no idea how or where to start. Please advise. Thank you.

There are complicated processes to qualify for a 501(c)(3) tax deductible charity -- apart from a conflict. You could always waive charges.

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