Initial Creation of Fund
The name of the Fund shall be the Lathrop High School Alumni Scholarship Fund (the Fund).
The initial organizers shall be known as the LHS Alumni Scholarship Fund Founders Group (Founders Group). The members of this group are:
C.B. Bettisworth Class of 61
Jeff Cook Class of 62
Claudia Storfold Harris Class of 61
Dr. James Moran Class of 61
Stefanie O'Brien Class of 61
Alan Richardson Class of 61
Margaret Cox Rich Class of 68
The Fund shall be held and managed and invested by the Alaska Community Foundation (ACF).
The Founders Group shall determine if the ACF will agree to operate the fund as a pre-endowed hybrid fund under a Scholarship Non-Endowed Fund Agreement with an initial deposit of approximately $6,000, granting a $2,000 scholarship in any year the fund has a beginning balance of over $15,000, and converting the Fund to an endowed fund in the year it achieves a beginning balance of over $50,000, thereafter granting 1 or more scholarships equal to 4% of the beginning balance or such other amount that the ACF deems sustainable. (See Example Worksheet)
The Founders Group will jointly sign the Scholarship Fund Agreement with the ACF and transfer the initial contribution to ACF to create the Fund. They will also provide ACF a list of the names and class affiliation of the original donors.
A member of the Founders Group shall be selected as the Scholarship Representative to receive official correspondence and quarterly financial statements. The Scholarship Representative shall share this information with other alumni as deemed appropriate.
Scholarship Criteria
Scholarships may be granted to students of any race, religion, or gender graduating from Lathrop High School who meet the following criteria:
1. Have proven financial need.
2. Have attended Lathrop High School for at least 3 years.
3. Have a cumulative GPA of at least 2.25 and have demonstrated significant academic improvement in the last two years before graduation unless the student has a cumulative GPA of at least 3.0.
4. Submit an essay describing non-academic activities while attending LHS including student activities, volunteer work, work experience, and general life circumstances. The essay should also include plans and goals for the future.
5. Acceptance and attendance at an accredited post-secondary college, junior college, or trade school offering a recognized degree or certification and located within the United States.
6. Recipients may apply for renewal for 3 additional years if they continue to meet the above requirements and are in good standing with the institution attended.
Scholarship Selection Committee Membership
The following named positions will be recommended to the ACF Board for consideration in establishing the Scholarship Selection Committee:
1. The LHS Principal or Assistant Principal.
2. A current LHS teacher who has had significant contact with the senior class.
3. A retired LHS teacher who is a member of the retired teachers' association.
Scholarship Fund Publicity & Advisory Board (the Board)
There shall be a Scholarship Fund Publicity & Advisory Board whose duties and make up are as follows:
1. The Board shall consist of up to 11 members all of whom are LHS alumni.
2. The initial Board shall include the Founding Group.
3. There shall be members on the Board from at least 3 different classes from LHS.
4. The Board's duties shall include:
a. Publicizing the existence of the Fund, encouraging donations, recruiting larger donors, and promoting donation competition among the classes
b. Advising ACF on the need for any changes to the Scholarship criteria or the make up of the membership of the Scholarship Selection Committee.
c. Recruiting from its ranks a replacement Scholarship Representative should the need arise.
d. Replacing its own membership as needed.
e. The Board may seek input from, and provide information to, LHS student groups such as the Student Council.
5. The Board should operate on an informal basis with consensus decision making. However, if voting becomes necessary it may only be conducted with a quorum of 60% of then current members represented. All decisions will be determined by a majority of the votes cast.
6. Failsafe provision – if the Board fails to have members, or fulfill its duties, the LHS Principal and the Retired Teachers Association may jointly recruit members who meet the above criteria to reconstitute the Board.