Policies & Procedures

SCHOLARSHIP DISTRIBUTIONS :

Annually the Board of Trustees approve the amounts available for distribution for each account. Deans, chairs, or account managers are responsible for selecting committee members to make recipient selections. The committee will determine whether the recipient(s) meets the qualifications listed in the memorandum of understanding for the endowed scholarship. The committee chair will use the Scholarship Recipient list form to list the recipients selected by the committee. Please deliver the completed form to the Endowment Compliance Specialist listed at the top of the form. The committee will maintain the documentation of student's qualifications or deliver them to the Endowment Compliance Specialist listed at the top of the form. Each committee must have at least 2 members including at least one member of faculty. Other employees of the university may be members of the committee. Donors, Alumni, or family members may only review applicants and observe interviews. Each recipient will also fill out and sign the Scholarship Acceptance Form and return it to the committee chair. Chairs will forward the form to the Endowment Compliance Specialist.

In the event the approved amount is insufficient, it is possible to request additional funds. This request will be made to the Executive Director of the Foundation. A memo or e-mail is sufficient and should include the reason for the requested increase as well as the amount requested. The Executive Director will determine whether the request should be taken to the Audit Committee for approval.