There are basically 2 approaches a class can take:
1. Collect funds each year and award most of the funds as your class scholarship.
2. Establish an investment fund where each year the money that you raised is placed into your investment fund.†† Then each year take the earnings from the investment fund to sue to award your scholarship.
We greatly encourage the second approach as this approach will not only grow but will also live on long after your classmates have passed away.††† This type of funding is referred to as an endowment.
class of 1967 chose to invest with the Vanguard Groupís
Each new class will have its own separate bank account and separate investment fund.†† Each class will have reporting responsibilities to the board of directors.
The class of 1967 scholarship amounts have progressed as follows:
2003†† $300††††† appx 10% of contributions
2004††† 500††††††† appx 10% of on hand contributions
2005††† 700††††††† appx earnings
2006†† 1000††††††† appx earnings
2007†† 1250††††††† appx earnings