Scholarship Agreement

GIFT AGREEMENT BETWEEN

The Missouri State University Staff Senate

and

THE MISSOURI STATE FOUNDATION

for

The Establishment of New Policies and Procedures for the

Staff Senate Scholarship

This agreement supersedes the previous agreement for the STAFF SENATE SCHOLARSHIP, which was signed on January 3, 2011.

ESTABLISHMENT

  1. The name of the fund is the Staff Senate Scholarship. It was established by the Senators of the Missouri State University Staff Senate in the academic year 2008-2009 with Casey Comoroski, Chair. This amended agreement shall be effective as of the date of the last signature.

  1. This fund was initially established with a pledge and gifts from Missouri State University staff members.

  1. The purpose of the agreement is to amend the policies and procedures for this restricted fund, which was established to benefit staff-persons employed at Missouri State University (hereafter indicated as the “University”) or qualified dependents thereof.

  1. The Missouri State University Foundation (“Foundation”) agrees to receive and administer the fund as set forth in this agreement and according to the policies and procedures of the Foundation.

  1. This fund is considered to be an open-ended account, meaning additional contributions may be made in the future by family and friends.

USE OF THE FUNDS

  1. The University office of Student Financial Aid will administer the scholarship and make award(s) in accordance with the following:

  1. Eligibility: The recipient must be enrolled at Missouri State University and be making satisfactory academic progress toward a degree. All applicants must annually submit the F.A.F.S.A. for consideration; student dependents of staff members must demonstrate need, though applying staff members need not demonstrate need. The recipient may be either a staff-person (non-faculty) employed at the University (currently and for at least one year prior to the time of application), or a qualified dependent thereof. When awarded to a dependent student, the recipient must be enrolled full-time.

  1. Manner and Time of Choice: The choice of the recipient of this award will be made upon the recommendation of the Office of Student Financial Aid. Consideration will be given to high school performance, college aptitude, leadership qualities, community service and financial need. Selection will be made in the spring of each year funds are available for awarding to begin the following fall.

  1. Term and Amount: The balance of the account will determine the amount of each annual award. Up to two scholarships can be given each year: one to a staff person and/or one to a qualified dependent of a staff-person. Recipients are eligible to renew the award for one additional year, but must reapply. Awards will be disbursed one half each semester, fall and spring.

  1. This fund will be administered without discrimination based on race, color, religion, sex, national origin, ancestry, age, disability, veteran status, political affiliation or sexual orientation.

ACCOUNT ADMINISTRATION

  1. The Foundation shall administer the funds according to its policies and procedures and will expend the funds according to this agreement.

  1. The fund shall be used only for a qualified charitable purpose consistent with the laws of the State of Missouri and Section 501(c)(3) of the Internal Revenue Code.

  1. The Foundation Board of Directors is authorized to change the terms and conditions for the handling of this Fund if in its judgment it becomes advisable to do so in order to better carry out the original intentions and purposes of the donor, or if determined to be contrary to law. During the lifetime of the donor, any changes shall be subject to donor approval.

  1. The Foundation shall advise the donor(s) of how the monies in the fund have been expended each year.