Approved and Released

1. Scope: This document defines the methods for managing the Educational Scholarship and Camp Hope Award Program (The Fund) at the Reading Moravian Church, Locust and Perry Streets, Reading, PA.

Historical Comment: Irvin Fred Wegelin established this Scholarship Fund in memory of his wife, Caroline Esther (Iobst) Wegelin with an initial investment of $4,000 in February 1986. The purpose is to aid those individuals who wish to further their education at an accredited institute of higher education, and to provide funds for those members of the Reading Moravian Church and Church School who wish to attend Camp Conferences at Camp Hope, Hope, NJ.

2.0 Responsibility Board of Trustees. The administration of this Fund shall be the responsibility of the Board of Trustees of the Reading Moravian Church, henceforth referred to as “The Board of Trustees”. The Fund is to be administered as a wholly separate entity from the Reading Moravian Church. These roles are to be carried out by those serving in the corresponding positions on the Board of Trustees. The rules of order governing the actions of the Board of Trustees shall also apply to the administration of The Fund.

3.0 Equipment: Not Applicable

4.0 Procedure

1. Scholarship Funds (General Comments)

   1. Interest and Dividends shall be reinvested in The Fund.

   2. Contributions and Fund Raising

      1. The Board of Trustees may make an appeal for funds to the congregation.

      2. The Board of Trustees may pursue fund raising activities befitting the character of The Fund.

   3. No member of the Board of Trustees shall receive any monetary reward for services rendered.

   4. If the Reading Moravian Church should cease to exist, all the assets of The Fund shall be transferred to the Eastern District Board of the Northern Province of the Moravian Church in America. To enable The Fund to continue to operate, all business shall then be conducted according to the rules and regulations of the Eastern District Board.

   5. The Trustees, or someone designated by them, shall perform a yearly audit of the records of this organization The Fund.

   6. The names of those who receive Scholarship Awards and/or Camp Hope Awards shall be announced at a church service and appear in the Church Life newsletter as soon as possible.

   7. Any monies not used during the fiscal year, such as awards not used after they have been designated to an individual, shall be reinvested in The Fund.

2. Fund Management

   1. The Board of Trustees shall manage The Fund with care, in such a way as to preserve and grow the capital balance, while providing reasonable service to all qualified applicants.

   2. The Board of Trustees shall choose appropriate investment vehicles to aggressively, but safely increase the capital balance.

   3. Monies of The Fund shall not be intermingled with that of the Reading Moravian Church or its other committees.

   4. The Fund principal shall be maintained at or above $25,000 minimum.

   5. The Board of Trustees shall distribute funds per section 4.8 Awarding the Scholarship Funds and Camp Hope Funds, stated below.

3. Application for Educational Scholarship

   1. All Applicants shall complete the Reading Moravian Church Scholarship Request form and submit it to the Board of Trustees by the stated date.

      1. The applicant shall submit a letter stating the name of the school, and a description of need, and any other information that the applicant feels might aid The Board of Trustees in its decision.

      2. The Board of Trustees shall determine the application deadline. Currently, it is June 1^st.

   2. Applicants may be required to submit additional information when directed by the Board of Trustees.

4. Requirements for Educational Scholarship

   1. The applicant shall be a member in good standing of the Reading Moravian Church.

      1. The Board of Elders shall resolve all disputes on this matter.

   2. If a single applicant applies for more than one Educational Scholarship Award in a given year, Church attendance shall be considered in determining the awards.

   3. The applicant shall be enrolled in an accredited program for advanced education to be considered for an Educational Scholarship Award.

   4. The applicant shall be a full-time student.

5. Application for Camp Hope Award

   1. The applicant shall complete the Reading Moravian Church Scholarship Request form and submit it to the Board of Trustees by the stated date.

      1. The applicant shall submit a letter stating a description of need, and any other information that might aid The Board of Trustees in its decision.

      2. The Board of Trustees shall determine the application deadline. Currently, it is June 1^st.

   2. Applicants may be required to submit additional information when directed by the Trustees.

6. Requirements for Camp Hope Award

   1. The applicant shall be a youth, 18 years old or less.

      1. As part of our youth ministries, we encourage all youth to experience the Spirit at camp.

7. Review and Approval of Scholarship and Camp Hope Awards

   1. The Board of Trustees shall review each application.

   2. The Board of Trustees shall qualify or disqualify each application.

   3. The Board of Trustees shall review all applications at the first regularly scheduled meeting following the application deadline.

8. Awarding the Scholarship Funds and Camp Hope Funds

   1. Awards shall be distributed from the Scholarship Budget set by the Trustees.

      1. Scholarship Budget shall be derived from the distributable funds, fiscal year end September, and finalized by January in the year of the awards.

      2. Distributable funds include all receipts such as interest, dividends, newly received contributions, fund raising receipts, and transfers of funds from other committees and exclude the capital balance of The Fund.

      3. If the Scholarship Budget is insufficient to reasonably satisfy eligible applicants, awards are to be made at the discretion of The Board of Trustees from the capital balance, keeping in mind the importance of retaining the capital balance for the future of The Fund. The Trustees may elect to make no awards in this situation.

      4. As soon as the Scholarship Budget has been set, the amount available for distribution, if any, shall be published. If funds are available for distribution, the call for applications shall be made at this time. If no awards are available, that fact shall be published at this time.

   2. The Scholarship Budget shall be apportioned according to the following guidelines. Once the total amount of Scholarship Budget has been determined, the portion for each type of award can be determined. The proportion may be adjusted by agreement of the Board of Trustees as appropriate, to determine the individual award amounts. :

      1. Camp Hope Awards shall be satisfied first. Maximum award shall be ½ of the tuition cost.

      2. Scholarship Awards shall be satisfied next.

   3. Educational Scholarship Awards shall be disbursed directly to the Student.

   4. Camp Hope Awards shall be disbursed directly to Camp Hope.

9. Completed Applications

   1. Once final reviews have been completed, the Secretary of the Board of Trustees shall file the completed applications.

10. Obligation of Recipients

    1. Awards are given without obligation. Recipients are not required to demonstrate proficiency or achievement to retain scholarship awards.

5.0 Associated Documents: (List Associated Documents) None

6.0 Forms: (List Associated Documents) F-0001--Reading Moravian Church Scholarship Request

7.0 Revision History:

Revision: 2 Date of Last Revision: 1/16/2005 Last Review Date: 1/16/2005

Reason for Change:

8.0 Electronic Notification List: N/A

9.0 Approvals: