4.0
HAROLD AND LOUISE TINSLEY SCHOLARSHIP FUND
The Policies of the Huntsville Track
Club, Inc., an
1 - The purpose of the Fund is to
establish and continue a program for awarding scholarships to outstanding high
school graduates who are members of the Huntsville Track Club and who are
enrolled in a college or university of their choice and intend to pursue
running on an intercollegiate level, as a member of either a track or
cross-country team at such institution of higher learning.
2 - The voting members of the Executive
Committee of the Huntsville Track Club shall be designated as the Fund
Committee and shall be solely responsible for the holding, management,
administration and distribution of the fund.
The Fund Committee shall have complete discretion as to whom the scholarships
are awarded and the amount of each scholarship or whether to award any
scholarships at all.
3 - The Fund was initially established
by the donation of $5,000 by the Huntsville Track Club, Inc. The Fund shall consist of any additional
monies transferred by the Huntsville Track Club; interest earned on existing
principal; and donations from others.
When a donation is made to the fund, the donor may designate the gift be
added to the "principal only" monies of the fund. It is the responsibility of the Fund
Committee to insure that the balance of the fund does not drop below the sum of
all "Principal Only" donations.
Any funds donated by The Huntsville Track Club shall be considered
"Principal Only" donations.
Any funds not designated as "Principal Only" donations will be
used at the discretion of the Fund Committee.
4 - This fund may be terminated or its
provisions may be amended at any time in the same manner as which amendment may
be made to the by-laws of the Huntsville Track Club, Inc. Upon termination the gifts of any individual
donors designated as "Principal Only" will be returned to such
donors. If the donors cannot be located
or do not wish the return of such funds, then these and all other monies shall
be placed in the general fund of the Huntsville Track Club.
5 - Scholarships will be awarded in
strict compliance with the rules and regulations of the National Collegiate
Athletic Association. In awarding a
scholarship, the Fund Committee shall consider the applicant's past performance
and overall record in, but not limited to the following areas: (A) academics,
(B) financial need, (C) community service, (D) good sportsmanship, (E) athletic
participation, and (F) participation in HTC activities. A scholarship shall be awarded to an applicant
on only one occasion and the disbursement of the scholarship funds shall be
through the college or university chosen and attended by the applicant.
6 - The Fund Committee is authorized to
invest the monies of the fund in any federally insured bank, savings and loan
association or credit union; in the money market or ready asset account of any
national brokerage house; in common or preferred stock of any publicly traded
corporation; or in bonds issued by corporations or governmental units. "Principal Only" donations will not
be invested in stocks or bonds.
7 - The Fund shall be kept separate and
apart from the general funds of the Huntsville Track Club. The treasurer of the Huntsville Track Club
and one other member of the fund committee shall be required to sign all checks
or requests for disbursements of funds.
8 - The officers of the Fund Committee
shall be the same as the officers of the Huntsville Track Club. Meetings of the Fund Committee shall be held
at the call of any member of such committee.
9 - If a family member of any member of
the Fund Committee shall apply for a scholarship then such member of the fund
committee shall be disqualified from participation in the selection process
during that year, but the applicant shall not be otherwise disqualified because
his or her relative is a member of the Fund Committee.
10 - The Fund Committee shall submit an
annual report to the Huntsville Track Club at the January business meeting of
each year, listing the name of the recipients and the amount of each
scholarship awarded; all additional principal received during the year and a
list of the investments and income received therefrom.
11 - Any HTC member may apply for a
scholarship by writing to any Committee member stating his/her intentions of
pursuing running at the intercollegiate level.
The application should include their running history, educational
background, community service, scholarship needs, and other scholarships
received. The applicant should first ask
their college coach if he/she could apply for an HTC scholarship. All scholarship monies are dispersed through
the institution for the recipient's educational expenses while attending that
institution. All applications for
scholarship must be received by the club president by 1 May of the year
preceding the school year for which the scholarship would apply if awarded.
12 - An applicant for a scholarship
must have been an HTC member for a minimum of one (1) year prior to the
application process. If a potential
applicant moves to the Huntsville area during the year of application, and thus
cannot meet the minimum one (1) year requirement, they may apply if they have
been a member of a recognized RRCA, AARC, or other club as deemed appropriate
by the Fund Committee for the portion of the year prior to moving to the Huntsville
area. A recipient must remain a member
of the HTC during such time as they are receiving funds from the club. Failure to maintain said membership shall
result in the forfeiture of any remaining funds yet to be distributed to the
recipient and will preclude further application.
13 - It is highly encouraged that
potential/accepted applicants and their parents be active members of the
club. Activity should include, but is
not limited to, participation in club races and other events, volunteering for
club races and other programs, etc. This
active participation will help ensure not only the viability of the club, but
also the scholarship fund that the club supports. This will help to continue said funds for
future members.