We are the proud sponsors of the
The Grand Canyon State
Alabama Alumni Endowed Scholarship Fund
By contributing an initial gift to the National Alumni Association of The University of Alabama in January 2010, the Tucson Arizona and Phoenix Arizona Alumni Chapters established The Grand Canyon State Alabama Alumni Endowed Scholarship Fund to promote the education of deserving undergraduate students who enroll full time at The University of Alabama, Tuscaloosa, Alabama.
The initial gift and any future contributions to the Fund shall constitute an endowed corpus which will be held, invested, maintained, and administered by the National Alumni Association in perpetuity according to its policies and procedures adopted from time to time for managing and investing endowed funds. The Fund shall be deemed fully endowed in perpetuity when the total of the contributions plus accumulated earnings total $20,000.00.
At the end of a five-year period, beginning with the date of the initial contribution, if the Fund has not accumulated the required $20,000.00 balance then all monies in the Fund will be transferred to the general scholarship fund of the National Alumni Association (currently titled the National Alumni Association Scholarship Endowment Fund) and The Grand Canyon State Alabama Alumni Endowed Scholarship Fund shall be declared null and void.
Prior to reaching the specified total, all earnings each year shall be added to and become part of the corpus of the Fund. Upon the Fund reaching the specified total, the Executive Committee of the National Alumni Association of The University of Alabama shall take suitable action to declare the Fund fully endowed in perpetuity.
The endowment earnings shall be used to award one or more scholarships under the policies and procedures of the National Alumni Association adopted from time to time to regulate and administer such awards. The following administrative guidelines and conditions apply.
1. The first scholarship shall be awarded for the academic year that immediately follows the date the Fund is declared fully endowed and sufficient endowment earnings are available.
2. All scholarships are awarded for the academic year, consisting of the fall and spring semesters.
3. Payment to the recipient(s) shall be made in two increments equaling one-half of the total award at the beginning of the fall and spring semesters by crediting the recipient’s university student account to offset expenses reflected on the recipient’s university billing statement.
4. The duration of the scholarship is for one academic year only.
5. All applicants must meet the general requirements to be considered a student in good standing at The University of Alabama, Tuscaloosa, Alabama.
6. The number of scholarships awarded and the value of each scholarship are at the discretion of the selection committee on a year-to-year basis and dependent upon the amount of earnings available to be awarded. However, no one recipient shall receive an amount greater than the cost of out-of-state tuition.
7. No student shall be denied the scholarship on the basis of race, creed, sex, religion, national origin, or the academic area in which he or she has elected to pursue a major course of study.
The Fund is further subject to the following additional or supplementary conditions as requested by the chapter/donor.
8. Priority of consideration shall be given to entering freshmen students graduating from a high school located in the State of Arizona.
9. The recipient(s) shall be selected by a scholarship committee consisting of the Executive Secretary of the National Alumni Association or designee, the president of the Tucson Arizona Alumni Chapter or designee, the president of the Phoenix Arizona Alumni Chapter or designee, and any additional person(s) as appointed by the president of either the Tucson or Phoenix Arizona Chapters. It shall be the responsibility of the scholarship committee to select the recipient(s) and to notify the Office of Alumni Affairs of the names and other pertinent information of the recipients(s) on a timely basis each year. If such notification is not received in the Office of Alumni Affairs on a timely basis, it shall be the responsibility of the National Alumni Association Scholarship Committee to select a recipient, giving preference to applicants, if any, as stated in item #9. However, if there are no qualified applicants meeting the criteria in item #9, then the National Alumni Association Scholarship Committee shall select a recipient based upon the committee’s best judgment.
10. Any other conditions.
Anyone may contribute or make a deferred gift to The Grand Canyon State Alabama Alumni Endowed Scholarship Fund provided they subscribe to the terms, provisions, and guidelines contained in this Memorandum of Agreement.
If at any future time the need and/or practice of awarding scholarships at The University of Alabama, Tuscaloosa, Alabama, should cease to exist, the National Alumni Association shall be free to utilize the endowment earnings to meet the most pressing needs of The University of Alabama, Tuscaloosa, Alabama, at that time.