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Longs Peak Council Wood Badge Fund

woodbadge emblem The purpose of this document is to outline a path forward to defray individual (participant and staff) costs relative to Wood Badge registration fees and to provide a long-term financial mechanism to enhance the overall Wood Badge experience in Longs Peak Council.

Short-Term/Ongoing

Create an ongoing, renewable LPC Wood Badge Scholarship Custodial Account.

Purpose: Provide Wood Badge course scholarships to assist needy Scouters to attend and/or staff Wood Badge.

Parameters:

  • Applicant must be a registered Scouter with the BSA.
  • Applicant must be resident within the borders of Longs Peak Council.
  • Applicant must attend a Longs Peak Council hosted Wood Badge course within the borders of Longs Peak Council.
  • Applicant must complete an LPC Wood Badge Scholarship Request form (to be created).
  • Applicant, if a participant, must be registered for an LPC Wood Badge course and must pay the remainder of the course registration fee prior to distribution of scholarship monies.
    NOTE: When a course has been cancelled, scholarship funds are rolled back into the scholarship account and the applicant becomes eligible to reapply for a scholarship when registering for a future Wood Badge course.
  • Applicant, if a staffer, must be on the council-approved staff list for an LPC Wood Badge course, must attend all course staff developments, and must pay the remainder of the course fees prior to distribution of scholarship monies.
    NOTE: When a course has been cancelled, scholarship funds are rolled back into the scholarship account and the applicant becomes eligible to reapply for a scholarship when approved to staff a future Wood Badge course.
  • Applicant failure to attend course or complete ticket and receive regalia will result in applicant needing to repay scholarship funds.
    NOTE: When "failure to attend" is a result of significant events (e.g., death or death in the family, unforeseen illness, etc.), the need to repay scholarship monies may be waived by consensus of the LPC Wood Badge Coordinator and the LPC Wood Badge Professional Advisor.

Distribution of Monies:

  • Eligibility based on need.
  • Authorization for distribution of scholarship funds is by LPC Wood Badge Professional Advisor and Wood Badge Coordinator.
  • Monies will be provided directly to the course upon registration of Scouter and payment of remaining registration funds. Monies are to be used only for registration purposes.
  • Scholarships will be set at $50 per applicant.
  • Rollover of Monies
    • When the initial account value reaches $5500, $5000 of those monies will be rolled over into an LPC Wood Badge Endowment Fund, per agreement between the LPC Accountant, Scout Executive, Wood Badge Professional Advisor, and Wood Badge Coordinator.
    • After creation of the endowment fund, subsequent rollovers will occur at year-end of all monies greater than $500, such that $500 is the maximum monies held in the LPC Scholarship Custodial Account at year-end.

Sources of Account Monies:

  • Contributions made by Scouters at the annual Wood Badge Breakfast and annual Wood Badge Reunion.
  • Interest distributions from the LPC Wood Badge Endowment Fund (see below).
  • Direct donations.

Long-Term/Ongoing

Create a Wood Badge Endowment Fund (to be named at a later date).

Purpose: Offset Wood Badge expenses for courses and individuals within the parameters outlined below.

Parameters:

  • Interest distributions are to be used solely for Wood Badge scholarships.
  • Capital gains distributions are to be used only for the overall good of Wood Badge in Longs Peak Council (e.g., technology acquisition, construction, flag purchases, etc.) and the greater cost of hosting Wood Badge courses in Longs Peak Council. Capital gains distributions are not to be used to offset simple course costs (e.g., copies, supplies and food purchases, staff expenses, etc.). The LPC Wood Badge Professional Advisor and Wood Badge Coordinator must preapprove such purchases.

Distribution of Monies:

  • There is not to be any distribution from the fund principle.
  • Monies generated as fund interest are to be rolled back into the Wood Badge Scholarship Custodial Account on an annual basis.
  • Up to one-half the monies generated as a result of capital gains may be withdrawn on an annual basis to be used in support of Wood Badge in the Longs Peak Council, as outlined in "Parameters."
    NOTE: Distributed capital gains monies not used within the calendar year are to be rolled back into and become a part of growing the endowment fund at year-end.
  • In the event Wood Badge ceases to be a nationally offered BSA course, all funds revert to Longs Peak Council.

Sources of Fund Monies

  • Longs Peak Council Wood Badge Scholarship Custodial Account
  • Direct donations
  • Distribution of fund capital gains
  • Reallocation of distributed capital gains
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Last Updated Sunday, 26-Feb-2006 22:57:47 MST