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Ohio Council of Chapters State Convention 21 September 2013

Ohio Council of Chapters State Convention 21 September 2013. MOAA Scholarship Fund: An IRS 501(c)(3) Non-profit. A separate, unique organization MOAA pays for all the operating expenses 100% of all contributions are used for the Educational Assistance program. A little history….

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Ohio Council of Chapters State Convention 21 September 2013

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  1. Ohio Council of Chapters State Convention 21 September 2013

  2. MOAA Scholarship Fund:An IRS 501(c)(3) Non-profit • A separate, unique organization • MOAA pays for all the operating expenses • 100% of all contributions are used for the Educational Assistance program

  3. A little history… • 1948 Established by the MOAA Board(interest-free loan) • 1983 Created Designated Scholarship Program (named for individual, Council, etc.; provides an interest- free loan + a grant) • 2001 Created American Patriot Grants (full ride to children of military who died while in Active service)

  4. Designated Scholarship - What is it? An endowed named scholarship that provides an interest-free loan + grant for up to 5 years of undergrad education at an accredited college/university of their choice. Minimum contribution for this program is $25,000.

  5. American Patriot Grants-What are they? Created to provide full coverage of college expenses for children of military who died while in Active service. With Congress’s creation of the Fry Scholarship program in 2009, we expanded eligibility to children of service members receiving T-SGLI. Minimum contribution for this program is $50,000.

  6. MOAA SF’s Management Role • Appeal for donations • Collect, invest and manage funds • Process applications • Choose recipients • Disburse funds • Collect repayments

  7. Appeals for the Scholarship Fund • Planned Giving Programs • Bequests, Charitable Gift Annuities, Trusts, Insurance Proceeds, IRAs, etc. • Single Donations • Chapter/Council Donations • CFC and Similar Programs • Fundraisers (Golf Tournament, etc.) • Corporate Donations

  8. Donor Societies • Legacy Circle Bequests • Patriot Society $500,000 or more • Eagle Society $100,000 - $499,999 • Designated Scholar $25,000 - $99,999 • Chairman’s Club $5,000 - $24,999 • President’s Club $1,000 - $4,999 • Director’s Club $500 - $999 • Liberty Club $250 - $499 The top four categories are recognized in our Classroom display.

  9. Council: Illinois Council (4); Virginia Council (3) Chapter: Ark-La-Tex (LA) (4); Austin (TX); Central Florida; Dayton Area (OH); El Paso (TX); Heart of America (MO); Heartland (CA); Kingdom of the Sun (FL); Middle Tennessee (2); Mile High (CO); Riverside March Field (CA) (3); St Petersburg (FL) (2); San Diego (CA); San Gabriel Valley (CA); Sarasota (FL); Southern Maryland; Southern Nevada; Southwest Oklahoma (2); Verdugo Hills (CA) (2); Western Suburban Chicago (IL) (3); Heart of Texas (American Patriot Grant) Council/Chapter Sponsorsof MOAA Scholarships

  10. Educational Assistance • Each spring, the MOAA Education Assistance Board determines the number of students to fund for the upcoming school year • Selected applicants are informed of their awards in May/June timeframe • Disbursements are made in August (loans and grants) and December (loans)

  11. Eligibility • Children of commissioned or warrant officers – active, retired, former (MOAA members) • Children of enlisted members on active duty or retired (MOAA members (Voices)) • < 24 years old at time of application; children who served in a Uniformed Service before completing college can have their eligibility extended by the number of years of service • Can receive assistance each year for up to 5 years of undergraduate education • Can apply any/every year; once in the program, a renewal process is used

  12. Applications • Entirely online - opens on first Monday in November • DeadlineNoon (EST) March 1st! • Applications judged on grades, extra curricular activities and financial need • About 35% of new applicants will receive an interest free loan • www.moaa.org/scholarshipfund

  13. 2013-2014 School Year 1,675 students receiving $9.2 million in Educational Assistance from the MOAA Scholarship Fund

  14. Ohio Recipients • For the 2013-2014 academic year: • 3 American Patriot Scholars • 26 loan ($5000) w/grant ($500) recipients • 30 loan ($5500) recipients • Total expected disbursements to Ohio residents this academic year: • $323,000

  15. Faces of Scholarship Left: Joseph McGinnis, Nuclear Engineering “The MOAA Scholarship Fund helped me out a whole lot with my housing, groceries, and basic cost-of living expenses. When I become an officer, I plan to join MOAA. It’s a great organization.” Left: Samantha Reho, Public Relations “MOAA serves our military families well, and they helped me achieve my academic goals. As a result, I am now able to serve our military families, too, bringing it full circle.” Right: Kevin Chung, Biology “Given the soaring cost of higher learning in the US, it was impossible for my family to afford paying for my higher education without taking out loans. MOAA has helped me pursue a career in medicine while saving me thousands of dollars in interest.” He is not 100% sure which medical specialty he’ll pursue, but he is 100% grateful for MOAA’s aid while an undergraduate. Right: Ashley Spooner, Chemical Engineering “The MOAA interest-free loan that I’ve received for the past three years has really made a difference for me financially…Without MOAA’s assistance, I would have probably had to get a job to help pay for those things. Instead, I have been able to really focus on my goal.”

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