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ENDOWED SCHOLARSHIP FUND:
OUR INVESTMENT IN THE FUTURE
PRSA’s Miami Chapter operates the Ev Clay/PRSA Miami Chapter Endowment Fund, Inc., the largest and perhaps oldest scholarship fund in the nation operated by a PRSA chapter. It began in 1985 to memorialize pioneer Miami public relations practitioner Ev Clay. The chapter began awarding scholarships in 1988 after nearly three years of fundraising.
The fund balance on Dec. 31, 2007, had grown to $147,918.03. The chapter presently awards eight $1,500 scholarships, two each to students with a public relations interest at the University of Miami, Florida International University, Florida Memorial University and Miami Dade College. Over the years, the chapter has awarded $106,600 to 72 students.
To fund scholarships, the chapter also has access to income from a smaller Ev Clay account set up years ago at the University of Miami ($30,000 fund balance).
Since 2000, the fund has been a recognized 501c3 not-for-profit corporation. Previously, funds were kept in a segregated chapter committee account. Members of the chapter board perform double duty as trustees of the endowment fund and are specifically tasked with protecting the endowment. This means that the chapter, not the endowment, absorbs any operating expenses as well as fundraising risks.
In 1996, the chapter consolidated various CD’s, a low-interest savings account and no-interest checking account and adopted a foundation-style investment approach with the Vanguard family of no-load index funds. Investments are weighted 60% in the Vanguard Index Fund, 30% in the Vanguard Short Term Treasury Fund and 10% in the Vanguard Money Market Fund with checking account privileges.
In 2004, the chapter successfully completed a six-year effort to double the fund balance, from $50,000 to $100,000, and increase total scholarship awards from $3,000 to $7,500.
In 2007, the chapter board brought annual scholarship funding up to its current $12,000 level.
In our most recent year (2007), the fund generated income of $18,783.10 from these sources: Investment income, $8,610: Annual endowment luncheon, $1,780; Chapter member solicitation, $3,605; Ev Clay Associates sports calendar mailing project, $3,063; Chapter gifts, $1,725.
The fund has low investment costs and zero operating costs. Day-to-day management is in the hands of a chapter volunteer who reports to the board. Paying an attorney for the 501c3 filing has been the only non-scholarship disbursement since the fund was established.
FOR MORE INFORMATION, PLEASE CONTACT: Robert C. Ross, APR, Miami Chapter Endowment Financial Management Chair, bobrosspr@bellsouth.net, 305-666-0012.
Does your PRSA chapter wish to start an endowed scholarship program? Click here for a complete how-to guide
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Thanks to Our 2008-2009
Endowment Fund Contributors
(Sept. 27, 2008-Sept. 28, 2009)
Top Contributor ($5,000-$9,999)
PRSA Miami Chapter
Special Recognition ($1,000-$4,999)
Anonymous
Ev Clay Associates
Benefactor ($500-$999)
Wragg and Casas Public Relations
Supporter ($250-$499)
Karen Buchsbaum, APR, Fellow PRSA
Contributor ( $100 - $249)
Bristol Public Relations, Inc.
Annabel Beyra, APR
Gary Brooten, APR
Tim Dodson, APR
Tully Dunlap
Patton M. Ellison in honor of Dr. Donn Tilson
John and Sandy Harrington
Mary Anna McClendon
Randall McKey
Robert Moring
Catherine Pacheco, APR
Anne and Colin Phipps
Roger Reece, APR
Bob Ross, APR, Fellow PRSA
Joy Satterlee, APR
Spero Canton
The Ashvins Group
Donor (Up to $99)
Business Wire, for Mike Gibaldi, APR (matching gift)
Jordan Fickess
Howard C. Gamble
Mike Gibaldi, APR
Georgina Gonzalez-Robiou, APR
Mr. and Mrs. K. Lawrence Gragg
Marie J. Lauro
Salvador Lew
Elizabeth Lloyd
Jessica Merz, APR
Angie Henderson Moncada
Leslie J. Monreal
David H. Pearson, APR
Cindy S. Polo
Odalys Reyno
Nathalie Santa Maria
Elaine Schaid
Gerald Schwartz
Fran Sevcik, APR
Cornelia T. Splichal
Dwayne Summar, APR, Fellow PRSA
Sylvia Urlich
EV CLAY/PRSA SCHOLARSHIP AWARD RECIPIENTS
YEAR NAME SCHOOL
2007 Tyrone Hall Florida Memorial University
Ashley St. Jean Florida Memorial University
Enrique Arce Miami Dade College
Claudio Avila Miami Dade College
Molly Maldonado University of Miami
Allyson Ross University of Miami
2006 Desari-Ann Gibbs FLMU
Jennefer Melendez MDC
David Berry Florida International University
Jamie Kaseta UM
2005 Priscilla Benitez MDC
Dawn Uscher UM
Tatiana Munoz FIU
Esther F. Fraser FLMU
2004 Tamara Pluviose FIU
Jessica M. Agudelo MDC
Kara Thompson FLMU
Athena Calderon UM
2003 Maria C. Cabal FIU
Erika Galan MDC
Heather Solomon UM
2002 Erica Cirillo MDC
Julio J. Barroso UM
Terianne Campbell FIU
2001 Erica Marie Gjorven FIU
Jennifer Diaz UM
Gabriel del Rio MDC
2000 Gordon Connell FIU
Lillian Welborn MDC
Meeghan Hoxie UM
1999 Nicole de Lara FIU
Melisa Mendez UM
Franziska Seipp MDC
1998 Gabrielle Imbimbo UM
Alanna Carinio MDC
Jessica Byrnes FIU
1997 Jill Boone MDC
Sandra Rosell FIU
Jake Butler UM
1996 Monique Damiano FIU
Melissa Vigues UM
Mileydi Guilarte MDC
1995 Kimberly Weissman UM
Christi Camille Schuh FIU
Sara Edith Perea MDC
1994 Marilyn Oliver FIU
Melissa Vigues UM
Eve Marie Smith MDC
1993 Nicole Ugarriza UM
Martha Quintero Mora MDC
Victor Pupo FIU
Susana Fernandez Barry
1992 Christine Clavijo UM
Jeremy Morris FIU
Laura Suarez UM
Anthony Yip MDC
1991 Christine Clavijo MDC
David E. Banciella FIU
Wendy Zalles UM
Rosaria Maria Castelli Barry
1990
Tracy Hisler Barry
Shani Beth Duberstein UM
Selima Hussain FIU
Kathy Brehmer MDC
1989 Nicole Kolber UM
Amy Longmire FIU
Allan Llanos MDC
Vivian Theriault (Vedel) Barry
1988
Laura Hilderbrand FIU
Margarita Martinez UM
Maria Blanco MDC
Monique Martin Barry
TOTAL THROUGH 2007: 72 awards, $94,600 in scholarships
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