Section records indicate that since the establishment of the Scholarship Trust in 1988, over $280,000 has been awarded. The source of these funds may be of interest.
The ASCE/NCS Scholarship Trust is a separate entity within the Section and answers directly to the NCS Board of Directors. The Scholarship Trust Board of Trustees is comprised of 4 members each serving a three year term, plus an NCS Board appointed representative and the Chair of the Engineering Education Committee, each serving a one year term. To date, the NCS Board appointed representative has been the immediate Past President of the Section. This Board is responsible for managing the Trust and awarding scholarships annually. Funds for these scholarships come from 5 sources.
Trust Principal Interest
Scholarship awards are derived from the annual interest from the Trust’s $100,000 principal. However, the interest alone is not sufficient to cover the awards annually. So the Trust depends on several other sources of annual funding.
In 2000 the Scholarship Trust Board established Memorial Trust Funds in the account. The concept of a memorial trust is that for an endowment of $20,000 (or more), the Scholarship Trust will agree to award an annual memorial scholarship in the amount of $1000 (minimum) in the name of the fund. Values of individual awards are determined each year based on the endowment principal and the overall performance of the Trust funds. Currently we have 4 Memorial Trust scholarships: Gail Hathaway, Harold Williams, John Hummel, and James Harland. A brief biography of each engineer is given to the scholarship recipient and is included in the Annual Award Banquet Program. All NCS members are encouraged to consider a Memorial Endowment in their estate planning. For more information contact the Scholarship Trust.
The Trust benefited for many years with a generous Corporate Scholarship from Clark Construction in the amount of $5,000. In years past this annual contribution enabled the Board to award higher individual scholarships, several as high as $5,000. The Trust welcomes firms who would like to sponsor a scholarship in the amount of $1,000 per year (or more). For more information contact the Scholarship Trust.
Annual Membership Contributions
Each year with the ASCE Dues Renewal members have an opportunity to contribute $25 to the NCS Voluntary Section Contribution. The NCS Board has directed that the Voluntary Contribution funds go directly to the Scholarship Trust. Each year these contributions total between $3,000 and $5,000. All NCS members are encouraged to consider the Voluntary Section Contribution in their annual dues payment. Additionally, Life Members are encouraged to consider giving at a higher level with their annual renewal since they no longer pay the full dues. In today’s troubled economy these voluntary contributions are greatly appreciated.
Past Presidents Collection
Each year the NCS Past Presidents meet at a reception before the Awards Banquet. Through tradition, the Past Presidents take up a collection for the Scholarship Trust. This collection generally contributes between $300 and $1,000.