Scholarships

Our nonprofit organization runs an art camp.  We use funds from donations to our organization to fund scholarships to our camp.  Currently we book a manual journal entry to move the income from the donation to an equity 'scholarship fund' account on the balance sheet.  Then we use another journal entry to move the funds from the 'scholarship fund' account to a revenue account to record as 'camp scholarship revenue' when a scholarship is awarded to the camper.  How should this be done instead?  Should we keep the donation revenue on the P&L as income and then record an expense for the scholarship instead?