CHARLOTTE ROTARY’S LONGEST RUNNING SCHOLARSHIP FUND

PURPOSE
The purpose of the Rotary Club of Charlotte Scholarship Fund is to provide scholarships to undergraduate students on the basis of academic merit, financial need and community service.  The Fund was established and is supported by the Rotary Club of Charlotte.

HISTORY

Established in 1921 during the presidency of J. Perrin Quarles and continuing to the present day, 70 years later, this Fund has helped hundreds of students with their high school and college education.

However, by 1937, the Fund was in disarray; President V. K. (Dr. Bill) Hart reported he was shocked to find “a paper loss of nearly $10,000.”  He felt that “to loan money to young people and not build character at the same time was futile and wholly inconsistent with Rotary.”  After study of other such funds, both Rotary and non-Rotary, a committee recommended the Fund be incorporated with specific rules.  Long-time member Doug Aitken, a banker, took responsibility for operation of the Fund.  63 loans were made between 1942 and 1953.  By 1953, the Fund had a net worth of $15,778, consisting of cash, a government bond, and outstanding loans backed by current, properly endorsed notes.  During 1952-53 new loans amounted to $1,900.  It is interesting to note, that of the 29 outstanding loans on June 30, 1953, nine loans were to black students; included were a teacher with a PhD in psychology, a speech therapist, a school teacher, and a dentist.  The others had not completed their education.

By 1979, administrative details and the complexities of reporting to the government led to the transfer of the day-to-day operation of the Fund to the Greater Charlotte Foundation, now The Foundation for the Carolinas.  At that time there were 16 outstanding loans totaling $11,388.81 with liquid assets of approximately $25,000 to be loaned to worthy students.

As applications for loans decreased, the Board concurred with the recommendation of the Foundation that the Fund be made a scholarship fund.  Scholarships are awarded to outstanding students, chiefly from Central Piedmont Community College, desiring to complete their college education.

NEW PROCEDURES AND GUIDELINES
The Rotary Club of Charlotte and the Central Piedmont Community College Foundation (CPCCF) have entered into a special scholarship partnership to benefit students enrolled in any program of study at Central Piedmont Community College (CPCC).

The awarding guidelines for the Rotary Club of Charlotte Scholarship Fund are hereby revised to provide scholarship assistance on an annual basis to deserving students attending CPCC.

The following requirements will govern the Scholarship application and awarding process:

1. To be eligible, individuals will be enrolled in or have been accepted for enrollment as a full-time student at CPCC.

2. Be a resident of Mecklenburg County, North Carolina.

3. Be able to demonstrate academic achievement based on official transcripts of coursework.

4. Preference will be given to individuals whose parents do not have a bachelor’s degree.

5. Preference will be given to individuals who are involved in school and community service.

6. To be considered, individuals must complete the CPCC Scholarship Application Form and FAFSA (Free Application for Federal Student Aid) Form, including an evaluation of educational expenses, household income and other financial factors.  (Both forms are available in the Financial Aid Office, CPCC.)

7. Scholarship candidates will be selected in consultation with the College’s Office of Financial Aid and recommended to the Rotary Club of Charlotte Scholarship Committee for final approval.  Finalists may be requested to attend a personal interview with the Rotary Club of Charlotte Scholarship Committee.

8. The Scholarship will be utilized for tuition, books, and supplies which are related to student’s course of study.

9. Retention of the Scholarship is contingent upon maintaining a minimum 3.0 cumulative grade-point average (on a 4.0 scale).

ADMINISTRATION OF FUNDS
The Rotary Club of Charlotte Scholarship Fund will be a component fund of the Foundation for the Carolinas (FFTC).  In February of each year, the FFTC shall forward the annual earnings in their entirety to the Central Piedmont Community College Foundation, PO Box 35009, Charlotte, NC 28235-5009 for awarding in consultation with the Rotary Club of Charlotte Scholarship Committee.

The Rotary Club of Charlotte Scholarship Fund will be managed by the Central Piedmont Community College Foundation.  The Foundation will transmit Scholarship awards to recipients’ CPCC accounts as instructed by the Rotary Club of Charlotte Scholarship Committee and CPCC Financial Aid and will provide annual reports regarding the use of Scholarship funds to the President, Rotary Club of Charlotte, North Carolina, at the official headquarters office.

Scholarship awards will range up to $2,000 at the discretion of the Rotary Club of Charlotte Scholarship Committee.