Establishing a New Scholarship
Establishing a new scholarship is similar to a new award except that that initial proposal review is done by the Scholarship Policy and Coordination Committee (SPCC) rather than the Honors and Awards Committee. To help an individual or group think through the process, it is recommended that they first contact the Scholarship Coordinator at ANS national.
All scholarship proposals must be sponsored by an ANS Division. This is to ensure that the award will be funded in perpetuity and it also establishes which subcommittee reviews the applications. Proposals are submitted to the Scholarship Policy and Coordination Committee (SPCC) for an initial review and then forwarded to the Finance Committee and Board of Directors (BOD) for final approval during the next BOD meeting.
Proposals should be submitted to the SPCC thirty (30) days prior to the ANS Annual Meeting. This allows enough time for review and approvals so the scholarship application can be open in the upcoming cycle (November-February). If approvals are not received by October, the scholarship will have to wait until the next cycle to be awarded. A representative from the sponsoring division should plan to attend the SPCC meeting at the Annual Meeting to discuss the proposal in detail.
Required Proposal Content
The following content represents a normal proposal; deviations from this example can be considered, but may require more extensive review.
- Name of Scholarship
Normally the name is a person (living or deceased), technical discipline, or ANS division or section.
- Supporting data on individual whose name is proposed
One or two page biographical sketch indicating the individual's accomplishments and evidence of recognition. Character and accomplishment of named individuals should be consistent with ANS objectives and image.
- Sponsoring organization
Normally an ANS division, but may be a local section, ANS member or other. Evidence of support should be provided by letter or representation at SPCC meeting.
- Academic level
Undergraduate, graduate, or sophomore.
- Academic/research discipline (if any)
Disciplines are normally set as preferences only, not as absolute requirements.
- Proposed initial level of scholarship
The minimum undergraduate scholarship level is $2,000; graduate is $3,000 as approved by the ANS Board of Directors. NOTE: After a scholarship is fully-funded at the initial level, divisions/individuals should continue to contribute to the fund. This will permit future increases in the award stipend; may provide for multiple awards; and will provide for years when interest rates decrease.
- Expected sources of initial/supplementary funding
Funded scholarships must have substantial initial commitments (normally $10,000) such as division/section funds, pledges from a corporate sponsor, individual donor, or bequest. Proposal should identify donors, amounts, and status of commitments. Actual transmittal of funds should not be made until the scholarship is approved by the ANS BOD.
NOTE: Earnings are based on a three-year running average and impact the fully-funded amount needed to award a scholarship.
- Plans for award of scholarship until sufficient fund level is achieved
ANS policy requires that all new ANS scholarships be self-supporting. While a fund is being developed, or if fund-raising expectations are not met, several options are possible:
- Annual supplementary support as necessary by a division or local section
- Award of scholarship once every 2, 3, or 4 years (if funds allow)
- Using principle to support scholarship, thereby ultimately spending the entire fund.
- In certain cases, merge or transfer funds with/to other scholarships. For funds that include solicited donations, this option may be precluded unless donors are advised at time of solicitation that such action is possible. Plans that identify this option should show appropriate language in solicitations.
- See Establishing a New Award Procedure for required amounts.
Sample plan for an undergraduate $2,000 division scholarship (requiring $40,000 at 5% interest):
Donors make $8,000 in initial contributions and pledge $10,000 per year for the next four years ($2,000 for direct support of the scholarship and $8,000 to the fund). From the second to the fifth year, the scholarship is paid from direct support; from the sixth year on, from fund interest.
Sample plan for a graduate $3,000 division scholarship (requiring $60,000 at 5% interest):
Donors make $10,000 in initial contributions and pledges $15,500 per year for the next four years ($3,000 for direct support of the scholarship and $12,500 to the fund). From the second to the fifth year, the scholarship is paid from direct support; from the sixth year on, from the fund interest.
- Expected duration of scholarship (if the scholarship is not planned to be permanent)
In the event that a scholarship is not fully funded within five years of inception the SPCC may, with concurrence of the sponsoring division or section and the ANS Board of Directors, either 1) reduce the scholarship stipend, 2) award the scholarship on a reduced schedule (once every two, three, or four years), 3) provide the difference in cash between return on investment and award amount, or 4) expend the accrued funds and retire the scholarship.
- Special selection criteria, restrictions, and other special requirements (if any)
Identify special needs, if any, such as geographic restrictions or participation of sponsors in selection process. Special requirements should be easily implemented and should minimize the administrative process. All scholarships must use a general application. SPCC will work with sponsors to accommodate reasonable needs, but may recommend against requests that involve too large an additional burden or that are otherwise inappropriate. The scholarship sponsors should indicate who will review candidates applications (members of the division/section or SPCC members).
Last modified July 18, 2018, 11:14am CDT