Scholarship Endowments

Hello Chapter Leaders! 

 

I hope this message finds you all well. Does anybody have experience with scholarship endowments? In others words some type of program whereby national (or another org.) would match/exceed the donations that we receive for the memorial scholarship that we put in place many years ago in Houston. At our recent award dinner last month, one of our longtime members (and an AWS life member) mentioned how AWS has an endowment program in place where they contribute 3X the amount donated. Does anybody have any experience in this matter? Our aim is to double our contributions this year in an effort to increase interest and engagement among our emerging professionals, and to help encourage our student chapter members to remain involved after college. Thanks in advance; keep up the great work everyone! 

 

Jacob Rahdarian, CMfgE

SME Houston Chapter 29

6 Replies
I can't thank you enough Matt! Working to get a meeting in the books with Kathy and Phillip as we speak. 

Jacob

Hi Jacob,

Kathy Carter is the SME EF contact you want to start with. Tell her I sent you. She and I worked extensively on completing/updating all three SME EF/SME Seattle 39 fund agreements in the past few years. She's great.

kcarter@sme.org

Cheers,
Matt Clegg

Jeff,

Thank you very much for your response. Email forthcoming! 


Jacob
Jacob,
I am a long-time member of SME Seattle Chapter 039. In 2010, we had $12,500 in a CD or similar that was not being used by the chapter. We made a decision to use the funds for scholarship activities.
Approaching SMEEF, we worked with Bart Aslin and came to an agreement that SMEEF would contribute $12,500 to create an endowed scholarship fund for the chapter. With $25,000 as the starting amount, we draw from each year's earnings to fund student and scholarship related activities, maintaining the principal endowment.
We signed the original agreement with SMEEF in March 2011. I have a copy of the original agreement. We've since updated the agreement; I don't have a copy readily at hand but could have a look for it.
If you are interested in a copy of the original agreement, let me know.
Jeff Arnold
206-209-7485

Phillip,

Thanks to the visibility from this post, Chelsea has connected me to SMEEF. I'll keep you apprised of any updates once I've connected with their team. 


Jacob 

Jacob, I am anxious to see if your question leads to some productive info.  I am about to personally endow a scholarship for the Manufacturing Engineering program at Georgia Southern University, and would love to see it enhanced.

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