AMERICAL DIVISION VETERANS ASSOCIATION

SCHOLARSHIP FOUNDATION

CONSTITUTION AND BY-LAWS

ARTICLE 1. NAME

The trust hereby provided shall be know as the Americal Division Veterans Association (ADVA) Scholarship Foundation, hereafter referred to as the Scholarship Foundation.

ARTICLE 2. PURPOSE

    1. The purpose of the Scholarship Foundation is to provide college and vocational scholarships to the children and grandchildren, including those by adoption, of current and deceased ADVA members, provided the deceased member held good membership standing at the time of death, and to any child or adopted child of an Americal Division soldier who was killed or died while on active duty with the Division.
    2. A member for purposes of this scholarship shall be defined in the ADVA Constitution and By-Laws.

ARTICLE 3. STATUS

    1. This Scholarship Foundation shall be a Non-Profit Organization, a Corporation organized and existing under the laws of the State of Massachusetts and operated exclusively for the purpose specified in Article 2.
    2. Trustees shall not receive any stated compensation for their services.
    3. Nothing herein shall constitute members of the Trustees as partners for any purpose. No Trustee shall be liable for the acts or failure to act on the part of any other Trustee. Nor shall any Trustee be liable for his act or failure to act under this Constitution and By-Laws, excepting only acts or omission arising from willful misfeasance.
    4. Nothing herein shall constitute any liability for acts or omissions committed by anyone associated with the Scholarship Foundation.
    5. The Scholarship Foundation shall use its funds to accomplish the purpose specified in Article 2. No part of such funds shall inure or be distributed to a Trustee.

ARTICLE 4. TRUSTEES

There shall be six (6) Trustees comprising the Scholarship Foundation Board. Trustee/Officers shall be: the ADVA National Commander, who will hold office Ex-Officio, the Chairman of the ADVA Fund, who will be appointed by the National Commander to serve an unlimited term unless replaced by a vote of the Trustees, and the Fund Treasurer, who will be appointed by the National Commander to served an unlimited term unless replaced by a vote of the Trustees. Four (4) other Trustees will be elected by the ADVA membership to serve a four (4) year term. Original term of office for Trustees will be staggered, with one (1) Trustee to be elected annually thereafter.

ARTICLE 5. GOVERNANCE

The Trustees shall direct and control the business management and affairs of the Scholarship Foundation. They shall have the authority to approve or deny any requests for grants or loans and to recommend dispensing of funds.

ARTICLE 6. SCHOLARSHIP FUNDS

The funds of the Scholarship Foundation shall be obtained primarily from donations and grants, gifts, devises, or bequests. All funds received must be unconditional.

ARTICLE 7. MEETINGS

The Trustees shall meet the first day of the Annual ADVA Reunion in Executive session, or at a date designated by the Chairman, to select recipients for scholarship grants or loans.

ARTICLE 8. DUTIES OF TRUSTEES

    1. The Chairman shall preside over all meetings of the Trustees and:
      1. Be responsible for publication in the Americal Newsletter, in the October-November-December issue, an announcement of the Scholarship Foundation program and information on how to apply.
      2. Be responsible for receiving completed applications and forwarding copies of the applications to the other Trustees for study prior to the scheduled meeting.
      3. Announce the successful applicant’s names, scholarship values, and college or institution they will attend at the Annual ADVA Reunion.
    2. The Treasurer shall:
      1. Be responsible for the care, safekeeping and accounting of all funds and property of the Scholarship Foundation, which come into his possession.
      2. Draw checks in the approved amount(s) and forward to the appropriate office of the college or institution concerned.
    3. The elected Trustees shall review each application and prepare recommendations prior to the scheduled meeting.

ARTICLE 9. FINANCIAL

    1. All funds received shall be placed promptly into federally insured account(s) paying the highest available interest or in any mutual fund, etc. deemed appropriate by the Trustees.
    2. Any real property received not necessary for the operation of the Scholarship Foundation will be converted to cash and handled in the same manner as above.
    3. Scholarship Foundation funds shall be audited and reported annually in conjunction with the audit and reporting of the ADVA financial funds.

ARTICLE 10. AWARDS

    1. The total amount awarded annually for scholarships shall be limited to no more than one-half (1/2) of the yearly income until reaching a balance of One Hundred Thousand Dollars ($100,000) in the Scholarship Foundation fund. Thereafter, the total yearly income may be awarded. One award of at least Five Hundred Dollars ($500) is to be given annually.
    2. The Trustees will decide on the number, type, and amount of each scholarship and determine the recipient(s). Basic considerations shall include potential and demonstrated desire to complete a college education or vocational/technical course consistent with personal goals, school involvement, and community activities.
    3. Amounts awarded shall take into consideration the amount available for the number of successful applicant(s) and any other pertinent matters.
    4. Checks for each scholarship grant or loan awarded shall be forwarded to the financial aid office at the appropriate college or institution for credit to the account of the applicant. The Scholarship Foundation amount may be paid in increments.

ARTICLE 11. APPLICATIONS

SECTION 1

    1. Completed application forms, together with all required enclosures, must reach the Chairman at an address he designates no later than 1 May of each year.
    2. All applications received after the deadline will be returned.
    3. The application for scholarship must be completed in its entirety and shall include all required enclosures. Among these must be:
      1. A letter from the ADVA member attesting to the applicant’s eligibility.
      2. Name of college or institution with a copy of letter of admission.
      3. A statement from the applicant’s current principal attesting to the applicant’s character.
      4. Two (2) letters of recommendation from current teachers concerning progress in current classes or subjects.
      5. A 200-300 word essay on subjects pertaining to the Americal Division history or other appropriate subjects designated by the Chairman.

SECTION 2

    1. The scholarships are awarded for one (1) year.
    2. Applicants must file a new application for each successive year.
    3. Scholarships are not available for graduate studies.
    4. The method and schedule for processing applications will be determined by the Trustees.
    5. All applications will be acknowledged.
    6. Successful applications will be announced during the Annual ADVA Reunion and in the Americal Newsletter.
    7. Unsuccessful applicants will have their applications returned.

ARTICLE 12. SUCCESSOR CORPORATION OR DISSOLUTION

Should this Scholarship Foundation for any reason whatsoever surrender its Charter, either voluntarily by action of a majority of the members assembled at the ADVA Annual Reunion, or by action of State Officials or a Court of Law, all of the property of the Scholarship Foundation shall be turned over and delivered to the Successor Corporation, if a successor corporation has been duly formed. Otherwise, all property of this Scholarship Foundation shall be turned over and delivered to the ADVA.

ARTICLE 13. AMENDMENT

The Constitution and By-Laws of the Scholarship Foundation may be amended, or a new Constitution may be adopted by a one-half (1/2) majority vote of the members present and voting at any Annual Reunion, or regularly called meeting of the ADVA, provided that prior notice of at least one (1) month has been published in the Americal Newsletter.

 

Last Revised June, 2004