Created so chapters can continuously grant local awards, according to local criteria, these scholarships develop through the growth of protected principal managed by the ASIS Foundation. Each chapter determines its award criteria, and ensures awards are prudently given so the scholarships survive in perpetuity. The chapter is encouraged to build the principal through fundraising. The Foundation offers an incentive award to chapter endowments once the principal exceeds certain amounts, per the Chapter Endowed Scholarship Agreement.
All chapters are eligible. The Foundation currently manages seven chapter-endowed funds.
Chapter Endowed Scholarship Agreement
To offer a Chapter Endowed Scholarship, the chapter and Foundation enter into an agreement regarding fund management and distribution of the annual return on investment. One-third is given to the Foundation, in the name of the chapter, as an unrestricted contribution. Two-thirds is available for distribution as an award to a chapter designee. If a fund makes no awards for five years, the fund is considered inactive and may be dissolved by the ASIS Foundation Board of Trustees. Funds are subsequently reallocated to the general unrestricted endowment of the Foundation.
Download the agreement [PDF]
Criteria and Selection Process
The chapter establishes award criteria and defines how the funds may be used. Scholarships can be used for graduate or undergraduate classes, leadership development programs, merit awards, or distributed on the basis of need.