Seymour Public Schools Fund
Est. 2010 for scholarships for Seymour High School students
They often say that timing is everything. And in the case of the Seymour Public Schools, that is absolutely how their new Endowment Fund came to be.
Several years ago, the late Joseph Pagliaro Sr., the first Chairman of the VCF Board of Directors, met Seymour's Assistant Superintendent Rick Belden for lunch to discuss the possibility of the Seymour Schools Scholarship Funds being managed and invested by VCF. Mr. Belden brought this information back to the Board of Education, who expressed interest, but focused on other issues at that time.
"We had a new Board, and were seeking out appropriate ways to manage our scholarships, which were in low-performing Certificates of Deposit," said Mr. Belden. "VCF staff came and presented several alternatives for us to review. What we liked best is that VCF is a local organization with professional expertise in investing - they could generate a much better rate of return than we were currently getting for our existing scholarships. It was a really good fit and made a lot of sense."
The Seymour Board of Education will create an Advisory Committee, whose role will be to oversee all disbursements from the Fund. Seymour High School staff will assist the Committee by making recommendations for scholarships to Seymour High School students who meet criteria outlined in each scholarship application.
The Board of Education's goal is to grow the Fund's capital and give it permanence. Without this new assistance, declining bank interest rates would have resulted in existing scholarship Funds disappearing as the initial gifts became depleted. Seymour Public Schools also hope to use the Fund for special Board of Education projects in the future. "We're confident that, as time goes on, people will continue to donate to the Fund through estate planning, and other giving vehicles," said Mr. Belden.
"What has been really important to the Board of Education and staff throughout this entire process is that VCF is a Valley organization, dedicated to improving the quality of life for everyone throughout the Valley," he said. "By establishing this Fund, we are partnering with VCF to ensure that our students have the best possible opportunities to improve their own quality of life, both now and in the future."
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