July 30, 2010
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History of Beaver Dam Scholarship Foundation, INC.
The Foundation was created in August of 1991 by eighteen local citizens concerned with the rising costs of education and was organized as a tax-exempt public charity. From its inception, the mission of the Foundation has been to provide talented local students with funds to attend either a 4-year college or a technical college of their choice. An Awards formula was established based on 50% need and 50% merit, and the student applications are graded and scored by out-of-town judges to avoid local bias in determining who receives these awards.
The Foundation is a permanently endowed volunteer organization with total annual expenses less than 3% of assets. The endowment funds are managed professionally, and the fund its expected to grow over time to a point where all local graduates who need assistance can be helped, because we believe that education is the gift of the current generation to the future.
The outpouring of generosity in donating to this fund is a tribute to Beaver Dam and has allowed the Foundation to give out 380 scholarships since their first award ceremony in 1992. Each year the total of the awards has increased directly in line with the Foundation's capacity. Thanks to our community's generosity, the Foundation is proud to announce this year it will again be awarding 30 scholarships totaling $152.250 to our sixteenth class of recipients, with technical college awards ranging from $1,250 to $2,000 and college awards ranging from $3,000 to $7,000.
