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Richardson Rotary Foundation Scholarship Program Richardson Rotary Foundation Scholarship Program Established 1983.

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Presentation on theme: "Richardson Rotary Foundation Scholarship Program Richardson Rotary Foundation Scholarship Program Established 1983."— Presentation transcript:

1 Richardson Rotary Foundation Scholarship Program Richardson Rotary Foundation Scholarship Program Established 1983

2 Richardson Rotary Foundation Scholarship Program HISTORY Formed Fred Hill spearheads. Initially, one $4000 scholarship, paid over 4 years. Scholarship increased to $4800 in Second scholarship added in 1988; the Foundation was incorporated. Scholarships increased to $5000 in 1999, paid over 4 years. Third $5000 scholarship added in The Foundation is organized exclusively for charitable and educational purposes and is a 501(c)(3) corporation.

3 Richardson Rotary Foundation Scholarship Program SOURCE OF FUNDS Richardson Rotary Club fund raising projects. Earnings from accumulated assets (funds). Contributions from individual club members through endowments, will codicils, or other means as Benefactors.

4 Richardson Rotary Foundation Scholarship Program CRITERIA FOR AWARDING SCHOLARSHIPS Graduating seniors from local high schools (Berkner, Pearce, Richardson) are eligible. Based on student need and where the scholarship will make a significant financial contribution. Students who exhibit academic achievement (not necessarily in the top 10% of the class); SAT and ACT test scores; community/volunteer activities; extra-curricular involvement; letters of recommendation and statement of educational plans and financial need. A student who has the potential to be a good representative of Rotary.

5 Richardson Rotary Foundation Scholarship Program PROCESS Applications distributed to high school senior counselors at Richardson’s high schools the last week in February. Applications due the first week in April. Normally have 30 to 40 applications which are screened; the top 9 to 12 are selected for interviews. Students interviewed by Richardson Rotary Foundation selection committee. Students should be prepared to discuss college costs and funding plan. Interviews scheduled during the last week in April. From the interviewed group, three are selected to receive the scholarships. Scholarships awarded at the club meeting the second week in May.

6 Richardson Rotary Foundation Scholarship Program RESULTS To date, 70 scholarships totaling over $300,000 have been awarded. Currently, we have 12 students on scholarship. Three graduate in May and are replaced the following Fall by our newest recipients. Since its beginning, three students have withdrawn from the program and all other recipients have graduated.

7 Richardson Rotary Foundation Scholarship Program CURRENT FINANCIAL POSITION Approximately $200,000 in assets which are invested conservatively in money market funds, bond funds, treasury notes and equity mutual funds. Richardson Rotary Club’s fund raisers are very important to the Scholarship Program. With today’s lower investment returns, they ensure that we can continue to help worthy and needy students and have the ability to add additional scholarships in the future.

8 Richardson Rotary Foundation Scholarship Program WHO BENEFITS FROM THIS? Worthy area high school seniors benefit from the Foundation’s grants of financial aid for tuition, student fees, books, and personal living expenses. You have the satisfaction of knowing you helped students pursue their education.

9 Richardson Rotary Foundation Scholarship Program YOU CAN MAKE A DIFFERENCE 100 YEARS FROM NOW!

10 Richardson Rotary Foundation Scholarship Program THE FOUNDATION’S PURPOSE To ensure the future of our community for years to come, by providing financial assistance to worthy students. We hope that Rotarians and non-Rotarians alike, along with small business owners and large corporate givers, will find merit in supporting this effort by contributing to the Scholarship Program.

11 Richardson Rotary Scholarship Foundation Click to edit Master title style Click to edit Master text styles Second level Third level Fourth level Fifth level 11 Richardson Rotary Foundation Scholarship Program Become a BENEFACTOR by donating $1,000 to the Foundation or informing it in writing that you have made provision in your Will, by memorandum, or other estate plan, naming the Foundation’s Permanent Fund as a beneficiary. Endowments of $20,000 or more will be granted in the name of the Benefactor in perpetuity. See a Richardson Rotary Foundation Board Member for more information.

12 Richardson Rotary Foundation Scholarship Program BOARD OF DIRECTORS Wayne Millsap, President Elizabeth Purdy-Bergin, Vice President Andy Chaffin, Treasurer Greg Moore, Secretary Glenn Barnett, MD, Director Jimmy Doty, Director Ron Poff, Director Tim Quilici, Director Courtenay Tanner, Director

13 Richardson Rotary Scholarship Foundation Click to edit Master title style Click to edit Master text styles Second level Third level Fourth level Fifth level 13 Richardson Rotary Foundation Scholarship Program IT’S UP TO ALL OF US… Help ensure everyone’s future by contributing to the Foundation’s Scholarship Program. We all benefit when worthy students continue their educations!

14 Richardson Rotary Foundation Scholarship Program “No one was ever honored for what they received, but rather for what they have given.” ~ Thomas Jefferson ~


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