Ansonia Rotary Club Scholarship Endowment Fund
Students apply for the scholarship through the Ansonia High School Guidance Department.
Incorporated in 1925, the Ansonia Rotary Club has a long-standing history of service to its community. For the past several decades, this has included awarding scholarships to deserving Ansonia High School students. The funds for these awards were invested in CDs in various local banks, which, at the time they were originally established, were providing strong interest rates.
Fast forward to our current economic climate, with all of the challenges we now face. The current Ansonia Rotary Club members wanted not only to consolidate these separate accounts into one, but to have an increased rate of return on their investment. Well aware of VCF President at the time, Jamie Cohen's, work at the Foundation and throughout the Valley community, they asked him to attend their meeting and make a presentation to the Club about creating a Fund with VCF.
"We wanted to know how it would work, and when funds would be available to us," said then Club President Ned Miller. "One of the most important things for us was to have the ability to make the decision about what student or students would receive this scholarship. Jamie also provided us with great information about how the Fund would be managed by investment professionals familiar with small groups like ours. When it came to a vote, it was unanimous."
Students apply for the scholarship through the Ansonia High School Guidance Department. The applications are then submitted to the Rotary Club's Scholarship Committee for review and decision. "We weigh many criteria in this process," said VCF Board Member and Scholarship Committee Chair Tim Dillon. "We look at academic achievement, participation in school activities, attendance, and, of course, financial need. In the past, smaller scholarships were given out to several students, but with the rising costs of tuition, we feel it has been more effective to designate a larger scholarship to just one student to really help make a difference," Tim said.
The Ansonia Rotary Club hopes to keep building the Fund throughout the years to help keep it growing even stronger. "One of the best things about this Fund is that no matter what happens to the Club, this Scholarship Fund will remain intact, said Ned. "We know that was the intent of those who donated money to this program in the past. We're pleased to know it will continue to honor that initial commitment and investment well into the future."
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