Members present: Lee Brown and Jill Bush
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Lee reported that 44 scholarships were approved by the NSCAF at $1500 each for a total of $66,000. All scholarship applicants who met the eligibility requirements were funded and included 15 Challenge scholarships; 13 Women’s scholarships; 8 Minority Scholarships; 7 High School Scholarships; and 1 Power Systems scholarship.
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Lee reported that the NSCAF approved $126,565.80 for funding of 9 grants including 1 GNC Nutritional Research grant; 1 Master’s Student grant; 3 Doctoral Student grants; 2 Young Investigator grants; 1 Senior Investigator grant; and 1 International Collaboration grant. This year, there were 33 grant applications and the Grants Committee funded one grant in each category and then funded additional grants based upon merit.
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Approval of the nomination of Joan Eckerson to serve a second three year term on the NSCAF BOD.
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Approval of a transfer of $150,000 out of the stock portfolio for an investment in United Development Funding IV. The money will be invested into Real Estate Investment Trust (REIT).
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Discussed the need for Grant and Scholarship Review Committee membership and rotation guidelines to be written and approved by the Board then posted on the NSCAF website. A separate document for each committee will be drafted by Joan for approval at a future meeting of the NSCAF BOD.
The meeting was adjourned at 3:20 pm CST.
