Establishing a UM Electrical and Computer Engineering Scholarship Account

  
 


The following are step-by-step instructions for establishing an ECE scholarship fund at the University of Maine. The intention in establishing this account is to provide a mechanism for distributing the principal that is donated.

  1. Determine if there is an existing fund that will serve your purpose. Contributing to an existing fund saves work, but does not provide name recognition and may not represent specific conditions you may want to apply.

  2. Determine the amount and conditions of the scholarship. Conditions might include:
    • minimum grade point average
    • class level (i.e. first year, sophomore, junior, senior)
    • financial need
    • area of interest
    • whether a co-op assignment accompanies the award

  3. Draft a fund description. The following is a possible template:


    XYZ SYSTEMS, INC. SCHOLARSHIP FUND

    The (XYZ Systems, Inc). Scholarship Fund was established at the University of Maine in 1999 with a gift from XYZ Systems, Inc. at the direction of (its President, John Doe, a member of the Class of 19xx).

    The fund shall be used at the discretion of the Chair of the Department of Electrical and Computer Engineering to provide assistance for undergraduate students attending the University of Maine and majoring in Electrical and Computer Engineering.

    The purpose of the Fund is to support one ($amount) or two ($amount) scholarships per year to be awarded annually to a student who is enrolled in Electrical and Computer Engineering.

    The recipients should maintain good academic standing, and a preference shall be given to those students who demonstrate an interest in studying (subject area). The Chair of the Electrical and Computer Engineering Department and a committee of ECE faculty will select the recipients in consultation with the Office of Student Financial Aid.

    Should it ever become impossible or impractical to carry out the purposes of this fund as described above, an alternative purpose which best fits the donor's intent and wishes shall be designated by the Office of Student Financial Aid.

    _____________
    Date

    XYZ Systems, Inc.
    By ______________________

  4. You should forward the scholarship check to:

    Office of University Development
    University of Maine
    Heritage House
    101College Ave.
    Orono, ME 04473

    In the letter you should state your intent, (i.e. establish a scholarship fund to etc.) The check will be placed in a holding account until the fund description is approved by the UMS Board of Trustees at its next quarterly meeting. The money will gain interest during that time but cannot be spent until the fund is approved. You will be sent an acknowledgement for tax purposes as soon as the check is received. The check must be made out to: "University of Maine".

    Prior to the Board meeting, the Development office will have the Dean and Chair sign their approval of the fund description. The fund description then goes to the President for review and then to the Board meeting.

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