Over the past 39 years, the Scholarship Foundation of Northshore has become the area’s predominant organization that provides annual scholarships to deserving graduates of the Northshore School District’s six high schools.
Since the spring of 1984, the Foundation has distributed scholarships valuing more than $4.3 million to over 2,270 students.
Over the past five years, scholarships have exceeded $3,800 per grant awarded to an average of 80 recipients per year. However, the increasing tuition cost of higher education presents challenges in providing a meaningful scholarship amount to students. As a result, the Foundation has established a policy to distribute a college scholarship of no less than $3,500. The goal is to exceed $5,000. Several are offered at $10,000 each and are renewable.
Scholarships
MORE THAN 2,270 SCHOLARSHIPS AWARDED “Without the support from the scholarship foundation, I would not have had the opportunities that shaped much of my undergraduate experience and opened doors thereafter.”
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Education
85-90 GRANTS PER YEAR AVERAGING $3,800“With my scholarship I was able to alleviate some of the financial stress off of my parents.”
“Rotary’s motto of service above self has been something I have tried to live by, and the opportunity to study at a collegiate level has reinforced those concepts.”
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Supporters
56 SCHOLARSHIP ACCOUNTS AND 100s OF SUPPORTERS“I have always been struck by the motivation and eagerness of scholarship recipients to continue their education. I am happy I can support the Foundation and know my contributions have made a difference in the lives of the students.”
During this time a lesser percentage of all dollars distributed through the Foundation were generated from Return on Investment of the Foundation’s managed portfolio. Families and organizations donated 90 percent to either fully sponsor a scholarship, increase the value of their scholarships or make up the shortfall of dollars needed to meet the minimum scholarship value of $3,500.
This non-profit organization is not a membership corporation. Thus, there is no ownership position for donors or trustees. It meets the criteria of a tax-exempt corporation. Donated funds are pooled and managed in perpetuity solely to benefit those applying for tuition and educational grants to be used at accredited institutions of higher learning. A board of trustees made up of community and service club individuals operates the Foundation.
Requests for information regarding the operation and policies of the Foundation may be directed to the Foundation through the Executive Director. Status of scholarship grant payments and other matters of a financial nature are also handled by this office.
The Scholarship Program Coordinator posts available scholarships on the website and at school counseling centers prior to November 15 and is available for questions concerning the process of applying for scholarships. Questions regarding purpose, criteria and eligibility should be directed to Ms. Davis.
Meet Primary Supporters
Kiwanis Club of Northshore
The Kiwanis Club of Northshore is one part of Kiwanis International, a global organization of volunteers dedicated to changing the world, one community and one child at a time. The Northshore branch was chartered in 1964 and has since been active as a service organization in our community.
The Kiwanis Club of Northshore joined the Foundation in 1986 to form a unique partnership among the three community service organizations. Over the years – following its initial donation of $5,000 in 1986 – the Kiwanis Club of Northshore has contributed a total of $39,147 to the Foundation.
Learn more about the Kiwanis Club of Northshore.
Rotary Club of Northshore
In the spring of 1984, eight active Northshore Rotarians established the Scholarship Foundation of Northshore. At the time, the club served three communities – Bothell, Kenmore and Woodinville – and later sponsored the formation of the Rotary Club of Woodinville. The Northshore club continues to support scholarships for Inglemoor, North Creek and Bothell high schools and the Secondary Academy for Success (SAS), plus for a graduate in the fields of craft or the trades.
Learn more about the Rotary Club of Northshore.
Rotary Club of Woodinville
The final long-time supporter of the Foundation is the Rotary Club of Woodinville. Since joining the Foundation in 1988, Woodinville Rotary has invested more than $700,000 in college scholarships in several scholarship granting accounts within the Scholarship Foundation of Northshore.
The club annually provides up to $20,000 in scholarships with money raised through the annual Rotary charity-fundraising event held in spring or fall.
A young mind is a wonderful thing to invest in.
The Foundation is managed by an 11-member Board of Trustees consisting of members of the Rotary Club of Northshore, Kiwanis Club of Northshore, the Rotary Club of Woodinville and the community at-large. Trustees are elected for three-year terms and are responsible for the ongoing operations and investment policies and practices of the Foundation. Officers are elected for two-year terms in odd-numbered years.
Kiwanis Club of Northshore
Al Haynes Retired Bothell High School Principal |
Joe Meneghini Woodinville 1st City Manager, Retired |
Rotary Club of Northshore
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Scott Newton Financial Advisor, Edward Jones |
Rotary Club of Woodinville
Eric Greenwood President, Retired Bank Executive |
Open TBD |
Northshore Community at Large
Melissa Arias CEO, Make-A-Wish Alaska/Washington |
Holly Call Retired, SAS High School Principal |
B Z Davis Retail Manager, Ostrom’s |
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Doug Moore Operator, Caliber Homes Bothell |
The Foundation’s role is limited to managing investments and overseeing distribution of scholarship funds to the recipients’ institution. The Foundation relies on families, organizations and the three service clubs to establish criteria for scholarships and determine the selection process.
An investment committee serves as a liaison between the Board and the professional managers selected to manage the Foundation’s assets. Presently, the policy calls for a moderate risk approach to investments.
The invested funds have managed an average return of between 5 and 7 percent over the past five years. An average of 5.8 percent of the invested portfolio funds have been used each year for scholarships. As of June, 2022, the invested funds totaled $2,021.000.
The Board managed these funds until the early 1990s. As the managed funds approached a half million dollars, they were placed with Oppenheimer by the Board and an investment counselor was engaged to advise and currently selected to manage the Foundation portfolio through Freestone Capital Management.
Policies for operational management and investment of funds have been adopted and maintained by the board of trustees. Much of the operational oversight is conducted through committees: Investments; Outreach; Executive; and Nominating. The Board’s executive committee includes officers and the chair of the Investment Committee.
Risk and allocation parameters have been reviewed and adjusted several times over the years and are reviewed every quarter by the Investment Committee for relevance to adopted strategies and market conditions. An investment policy adopted in 2012, and revised in 2014, is available for review by potential donors and account sponsors.
The annual meeting is conducted the third Tuesday in September at which time the Board determines the dollar amount to be drawn from investments to cover a share of the following year’s scholarships and to cover operational costs.
The Foundation engages the services of an executive director, a scholarship program coordinator and a Scholarship Systems Specialist. They operate as independent contractors and are responsible to the Board of Trustees. The Foundation engages a CPA firm to provide the annual tax return and an assessment of the financial accounting practices. Volunteers are engaged in financial administration, community relations and communications.
Over the past five years a lesser percentage of dollars distributed through the Foundation were generated from Return on Investment of the Foundation’s managed portfolio. Families and organizations now donate 89 percent to either fully fund, increase the value of their scholarships or make up the shortfall of dollars needed to meet the proposed minimum scholarship value of $4,000.
