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Monday, August 24, 2020
VĚSTNÍK
A琀ention SPJST High School Seniors and Co氀ege Undergraduates: SPJST Scholarship Applications Available September 2020 Through January 2021
Scholarship program rewards academic excellence, extracurricular involvement Dear Members, Whether students are studying online or on campus, they need funding to make it happen. The SPJST Scholarship Program is here to help. Since its inception in 1984, more than $1,600,000 in scholarships have been awarded to deserving young members through the program. In 2020, 43 general scholarships, two technical scholarships, and two leadership grants were presented. In addition, five district merit scholarships, one state merit scholarship, and two royalty scholarships were awarded this summer for a total of 55 scholarships and grants presented for the year. SPJST scholarships are funded through an annual allocation by SPJST and thanks to voluntary contributions received through our 100 Pennies Scholarship Drive, memorial donations, and endowments. Donations are tax deductible. Applications for scholarships are sent out by email from September through January upon request – or you may download the applications at www.spjst.org. The Fraternal Department must receive the completed application and all requested information by February 1, 2021. Recipients are announced in April. The following scholarships are available through the program: General and Technical Scholarships – For all SPJST members Leadership Grants – For active SPJST youth club members – Applicants may only apply for this grant in their senior year of high school. Active youth club members are strongly encouraged to apply for the General Scholarship — or Technical Scholarship if attending a technical school) and the Leadership Grant.
All interested SPJST members who wish to apply for a scholarship must meet the following criteria: r Have an active SPJST insurance certificate in force for at least one full year as of February 1; if the membership is in the form of an annuity, the amount must be at least $10,000. r Be a full-time student. r Hold an active SPJST insurance certificate and/or annuity for the duration of the scholarship. r Be a high school graduate or equivalent. r Attend an accredited two- or four-year college, university, or technical college – as designated by one of the six regional accrediting bodies in the United States. Best wishes to all SPJST members who wish to apply for a scholarship this year. I hope to see many of our young people apply for the 2021 scholarships. Moms and dads; grandmothers and grandfathers, help us spread the word and encourage the special young members in your lives to apply! On a Related Note . . . Members and lodges wishing to make a positive difference in the life of a young person and at the same time establish a lasting memorial may establish or contribute to an SPJST Endowed Scholarship. The scholarship may be established in your name or the name of the individual you wish to honor. SPJST Endowed Scholarships may be established starting at $10,000. By definition, an endowed scholarship is one in which the principle
remains intact and only the interest is awarded each year. Once established, your scholarship will be managed by SPJST. Your endowment creates a permanent funding source that will grow over time and will support deserving students today and in the future. In establishing an SPJST Endowed Scholarship, you have the opportunity to set the criteria for your SPJST Endowed Scholarship. For example, you may wish to direct your scholarship fund to reward high achievement students who are pursuing a specific field of study. Other criteria for you to consider are specific colleges or universities, areas of academic interest or extracurricular involvement, community service, or hometown. Please know that in establishing restrictive criteria, you will be limiting the pool of qualified recipients. More about that later. Also, in accordance with IRS publication 526, located at http://www.irs.gov/pub/irs-pdf/p526.pdf, a donor may not select a specific individual as a beneficiary of their gift, i.e. scholarship recipients. SPJST Endowed Scholarships differ from others in that they are truly the gift that keeps giving. An SPJST Endowed Scholarship is a perpetual gift because only the interest is applied towards the scholarship while the principle continuously grows. Endowed scholarships are a wonderful way to honor a loved one or link your legacy with the future. The minimum gift needed to establish a named, endowed SPJST scholarship is $10,000. This amount can be paid all at once or in payments. Once the fund reaches the $20,000 amount, the scholarship will be awarded annually in the honoree’s name. Until $20,000 is reached, the interest gained is reinvested in the fund. At the primary donor’s request, an endowed scholarship will be awarded every other year, provided that the endowment balance totals at least $10,000. There are many ways to fund an en-
dowment, including gifts of cash, bequests, securities, life insurance, retirement assets, or properties. Here’s Another Option . . . As an alternative to an SPJST Endowed Scholarship, donors may elect to award a one-time scholarship in the name of an individual, organization, or business. The minimum donation needed to award a one-time SPJST scholarship in the name of an individual, organization, or business is $1,000. Just as with the SPJST Endowed Scholarship, donors seeking to award a one-time SPJST scholarship also have the opportunity to set the criteria for your SPJST Scholarship. Criteria should not be so narrowly defined that it is difficult or impossible to find qualified applicants and, therefore, to honor the donor’s intent. Following are some general criteria that may be considered by donors: • Award restricted to students in a specified college and/or major. • Award restricted to students from a specific school or county. • Applicability only to high school graduates or undergraduate students or open to both. • Participation in extracurricular activities such as honor societies and student organizations. In the event a donor proposes criteria which are too narrowly defined, SPJST will explore the implications of such closely defined criteria with the donor. If you have any questions about the information that I have presented or if you would like to proceed with the establishment of an SPJST Scholarship, please give me a call at 800-727-7578 and I will be happy to assist you. Fraternally, Brian Vanicek Supreme Lodge President —SPJST—
