AWSCPA's Financial Services Corporate Sponsor:

AFFILIATE SCHOLARSHIP ENHANCEMENT PROGRAM
Compiled by Jane Tillinghast, CPA, AWSCPA Vice President Publications

It’s time again to request funds from National for your affiliate’s scholarship program! 

As many of you know, National provides enhancement monies for affiliate scholarships each year.

To explain briefly how this program works, it is important to know that the national enhancement monies are provided by the AWSCPA Foundation – that’s the $15 optional donation you see on your dues invoice each year.  These member donations to the AWSCPA Foundation are designated for the sole purpose of funding the national scholarship enhancement program.

The national enhancement to affiliates will be based on a percentage calculated between the affiliate funds total pool and the AWSCPA Foundation funds available. Notification of the national enhancement monies and checks are scheduled to be mailed on May 4, 2008.

To be eligible for this year’s national enhancement funds, affiliates are required to submit an application and provide proof that local funds have been dedicated for the local portion of a scholarship (via either Board of Director minutes or a separate resolution).  Applications and supporting documentation must be received no later than April 18, 2008 for consideration in this year’s funding allocation.  Your application should be mailed, faxed or emailed to the Administrative Office at the following:

AWSCPA
136 South Keowee Street
Dayton, OH 45402
Fax: (937) 222-5794 or info@awscpa.org

Questions?  Need clarification?  Call (800) 297-2721 (AWSCPA1)

For further information on the national scholarship enhancement program, please refer to the Scholarship Guide which can be down loaded from the website.  Go to www.awscpa.org, Members Only, Affiliate Outreach, Scholarship Guide.

Another aspect of the AWSCPA Foundation is to provide a means for a contribution to be tax deductible.  In order for contributions to be tax deductible to the contributor, checks must be written to an organization which qualifies as a 501(c)(3) under the IRS code.  AWSCPA affiliates do not qualify for this purpose.  However, the AWSCPA Foundation does qualify and can be used by the affiliates for this purpose.

The basic steps will be:

1. Contribution check solicited by local affiliates for the scholarship fund should be made out to the “AWSCPA Foundation”.
2. These checks should be forwarded to the administrative Office in one batch.  These dollars are then designated for your affiliates and transferred back to your affiliate for education purposes.  CONTACT THE ADMINISTRATVIE OFFCE AT 1-800-297-2721 FOR SPECIFICS IN HANDLING TAX DEDUCTIBLE GIFTS.

For any affiliates interested in starting a scholarship program the Scholarship Guide on the web site offers a wealth of information.  There are sample scholarship applications, sample announcement letter to accounting head/professor, sample letter to award winner, advice on application procedures, the selection process, and publicity/follow-up.