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The Children’s Memorial Scholarship Fund

Non-Profit Report:
The Children’s Memorial Scholarship Fund

NON-PROFIT REPORT A WEEKLY PROFILE OF A LOCAL NON-PROFIT ORGANIZATION

The Children’s Memorial Scholarship Fund was established in 1919. It
is a living memorial to Rochester public-school students who have, from the
time of World War I, served in the armed forces. The sole mission of CMSF is
to provide financial aid to worthy Rochester public-high-school students so
they can stay in school.

That mission and the unique relationship with the Rochester City
School District remains true today as it was in the early part of the
century. Even the financial difficulties facing today’s families are
essentially the same. Financial problems may be the result of a broken home,
or a large family, or a disabled provider, and it is these problems that can
become roadblocks to a good education. CMSF seeks to offset the financial
burden some families face by offering scholarships.

All full-time Rochester public-school students in grades 9-12 who
meet the eligibility criteria for scholastic performance, good character and
financial need are eligible for a scholarship. To remain on full
scholarship, students currently must, in each marking period, maintain a
3.15 grade point average and have no grades of E.

Financial need is determined by the following criteria: the student
is eligible for the free lunch program; the student or his or her family is
receiving social-services assistance; and the family income does not exceed
approximately $7,000 per person. In addition, the board may consider other
indications of need, and the board annually reviews financial eligibility of
students on scholarship.

Good character consists of the student having regular attendance,
and showing positive behavior and participation.

A stipend is granted to qualifying students on a bimonthly basis,
which extends through the school year. The money may be used for any
personal expenses. Presently, students receive scholarships of $40 per month
(two checks of $20, $400 per year). Senior scholarship recipients in good
standing also receive an end-of-year stipend. Some 45 to 65 students are
helped each year as a result of CMSF.

Funding for the scholarships comes from a variety of sources. The
largest amount is from an endowment fund established by bequests from
supporters of CMSF and from some of its former beneficiaries. Other sources
are memorial donations and designated pledges to the United Way of Greater
Rochester Inc.

But CMSF considers the most important source of funds–which keeps
alive the original spirit of CMSF–to be the donations collected during the
fall school fund drives each year. The money is given directly to students
and accounts for approximately one- sixth of the total scholarship awards,
between $5,000 and $6,000. The school fund drive is scheduled to coincide
with Veterans Day, formerly Armistice Day, the date on which the fund began.

To find out more about CMSF call Administrator Cheryl Testa
at 262-8783.

Financial Record Year ended June 30, 1996
Revenue %
Interest & dividends $21,307 60.54
Capital-gain distributions 5,364 15.24
School and fund raising 4,095 11.64
United Way 2,779 7.90
Gifts & bequests 1,648 4.68
Total revenue $35,193 100

Expenses
Counseling salary $11,130 40.24
Student scholarships 9,950 35.98
Brochure & printing 1,730 6.26
Accounting fees 1,375 4.97
Trust fees 1,126 4.07
Payroll taxes & insurance 1,010 3.65
Office 715 2.59
Fund-raising event 620 2.24
Total expenses $27,656 100
Excess (shortfall) of revenue over expenses $7,537

Directors
Barbara Densmore, president; teacher, John Marshall High School
Kristina Young, treasurer; financial-project analysis, Fleet Bank
Paulette Hanks, past president; math teacher, Franklin High School

Rosalyn Della Pietra, retired teacher
Emma Dixon, math teacher, Franklin High School
Cathy Goodwin, teacher, Wilson Magnet High School
John Grantsham, vice principal, School of the Arts
Charles Griffith, retired teacher
Lilly Haygood, consultant, business owner
JoAnn Roach, special-education teacher, East High School
Noel Schlageter, retired teacher
Sameemah Shareef, guidance counselor, Edison Technical High School
Suze Wollke, financial vice president, M&T Capital Advisors

Researched by Julie K. Welch

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