Mission Statement
The Acworth Foundation, Inc. (the “Foundation”) has been established in recognition of the education provided to its founder Brian Acworth who was a student evacuated to the U.S. from Britain in 1940 and, as result of the generosity of others, was able to attend the Choate School in Connecticut grades 9-12 during the Second World War.
A. These principles guide the Foundation:
(1) That education received in grades 9-12 has a critical influence on the college performance and future achievement of an individual.
(2) That education of the most gifted individuals will yield the greatest benefits to society as a whole as well as the individual recipient, the other students in the recipient’s class and, generally, the school attended.
(3) That a fund that provides such help to such individuals has the potential for long term existence through reciprocal support from recipients during their lifetimes.
(4) That by providing a substantial part, but not all, of the funds required for each student the Foundation will encourage wider financial participation in its program and enable the maximum number of students to receive help from the Foundation.
B. The mission of the Foundation therefore is:
(1) To assist gifted students in grades 9-12 (or the equivalent grade outside the U.S.), and in exceptional cases to be determined by the Trustees at their discretion grades 7-8, with scholarships for the tuition, room and board, books, supplies, equipment, transportation and such other expenses as make possible the participation of the student, in the educational program of the schools they attend (“Education Expenses”).
(2) The Trustees shall select schools which shall nominate the students for whom the Foundation provides funds for Education Expenses. Therefore, funds shall be disbursed as a result of (i) accepting nominations provided by schools invited to do so by the Trustees in the U.S., the U.K. and other countries (“Qualified Schools”) to submit nominations or (ii) nominations provided through other sources as determined by the Trustees.
(3) Distributions from the Foundation for Education Expenses may be made directly to the Qualified Schools; provided, however, that in the case of a Qualified School located outside the U.S. (a “Foreign School”) distributions may also be made to any charitable foundation that (i) is organized under the laws of the U.S. to provide assistance to that Foreign School, (ii) is exempt form U.S. federal income taxation pursuant to Section 501(c)(3) of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), or any future relevant provision of the Code, and (iii) is not a “private foundation” (as classified in Section 509(a) of the Code or any future relevant provision of the Code).
(4) It is intended that the Foundation provide part of the funds needed to pay the required Education Expenses of any student in any year; the remaining Education Expenses of such student are to be provided from other sources including, but not limited to, the student, the student’s family, other scholarships and loans.
(5) Any student for whom the Foundation provides funds for Education Expenses shall be required while a recipient of such funds to be actively involved in a community service program approved by the school.
(6) Any student for whom the Foundation provides funds for educational expenses shall be identified as an “Acworth Scholar” in the records of the school attended and in the student’s subsequent college (or equivalent) application. It is intended that ultimately enrollment as an “Acworth Scholar” shall be a mark of distinction for the student and the school.
C. Unless modified by the Trustees, the grant-making procedure of the Foundation shall be as follows:
(1) Each Qualified School seeking scholarship funds from the Foundation for any Education Expenses will select one or more nominees for scholorships based on the criteria established by the Qualified Schools and the Foundation, emphasizing the student’s potential but including financial need, and will submit the name(s), qualifications and the criteria applied for each nominee.
(2) If the Trustees determine that nominations can be made by individuals or entities other than Qualified Schools, the Trustees will announce the procedure for making such nominations, and the nominators will submit the name(s), qualifications and the criteria applied for each nominee.
(3) The Trustees (or a committee appointed by the Trustees) will accept the scholarship recipients from the students nominated by the Qualified Schools and any other individual or entity who is invited to make nominations. The Trustees shall select nominees based on the School’s and the Trustees’ judgment of the potential of the nominee to contribute to the learning environment at the school as well as to make an exceptional future contribution to society. However, any student who is a “disqualified person” with respect to the Foundation (as defined by Section 4646 of the Code or any future relevant provision of the Code), shall not be eligible to receive any scholarship funds from the Foundation.
(4) The process for such submissions and selections shall follow application procedures established by the Foundation and be consistent with admission schedules of the Qualified Schools and any other individual or entity who is invited to make nominations.
(5) Scholarships for Education Expenses are intended to be granted to the student and provided directly to the school that the student attends for all school years remaining to grade 12 (or the equivalent grade outside the U.S.); provided, however, that the scholarship renewal shall be evaluated on an annual basis. Scholarships will be renewed annually unless (i) the renewal is not recommended by the Qualified School (ii) the Trustees, in their discretion, determine that the renewal is not appropriate due to changed circumstances that are inconsistent with the original application.
(6) All Qualified Schools that receive scholarship funds for a student from the Foundation in a given year shall be required at the conclusion of each semester during that year to make a written report to the Trustees in such form as may be established by the Trustees on the progress of the student, including class standing and GPA, and confirming the information provided to the Foundation in its original nomination of the student is still valid and the use of the funds for Education Expenses as specified in its nomination.
(7) All student beneficiaries of scholarship funds from the Foundation in a given year shall be required at the conclusion of each semester during that year to make a written report to the Trustees in such form as may be established by the Trustees.
(8) All student beneficiaries of scholarship funds from the Foundation shall be encouraged to support the Foundation financially when they are able to do so, thereby helping others in the same manner as they were themselves helped. In addition, the Foundation will solicit contributions to the Foundation from potential donors.
(9) The Trustees shall administer the activities of the Foundation, including without limitation all grant-making activities as is required (i) for continuing qualification of the Foundation as a charitable organization exempt from federal income taxation under Section 501(c)(3) of the Code or any future relevant provision of the Code, and (ii) to avoid any taxes imposed by Sections 4941 through 4945 of the Code or any future relevant provision of the Code.
