Progress 2009...
Classmates,
I am pleased to report on the mid-year status of our class scholarship fund. In January of this year we crossed the $10,000 total contributions mark and purchased a one-year Certificate of Deposit at Eureka Savings in the amount of $10,000. To date, that CD has earned $229.06 interest. In addition, there is $1,400 in the L-P Foundation Money Market account, so the total amount in our class fund is $11,629.06. The scholarship guidelines stipulate that only interest earnings may be used for an award, and also that the minimum amount of an award shall be $500. When the CD matures in January of 2010, we will determine how much total interest has been earned, but it is likely that the amount will be less than $500. Thus, it is probable that we will have to wait one more year, that being April 2011, before awarding our first scholarship. That will make it four years after the inception of our program, which is very commendable.
The total number of contributors to date is still small, so we continue to urge others to get involved in this worthy venture. Several of those who indicated they would support the program at the outset have still not come through with their first contribution. We recognize that we are still going through one of the worst economic meltdowns in our lifetimes, so that could be a contributing factor. However, we urge you to make this program a priority on your list of charitable organizations that you support. The amount of your contribution is not as important as getting on board and involved. An investment in the lives and careers of our college bound young people is among the best we can make. Once again, either contact me directly or go to the class web site, www.rhfalk.com/lphs, for details on making your contribution.
Thanks to each of you for your thoughtful consideration and support.
Jim Grisolano