AMERICAN LEGION PROGRAMS - LEGACY RUN AND LEGION RIDERS
What is the Legion doing with the money we are collecting?
Bob Caudell: Currently there is nearly $2.1 million in the American Legion Legacy Scholarship Trust Fund. During 2007, the interest was used to fund $36,000 in scholarship awards. The only administrative fees used from the fund were in the amount of $9045 (from January through November 2007) for trust fees used for investing the principle. All other administrative overhead costs are covered by the Legion's general fund (i.e., my budget).
What happens to the principal of the trust fund?
One hundred percent of each donation goes into the trust fund. The $74,000 awarded in scholarships is from interest money, not the principal, which must be left to grow. I would note that for 2004 and 2005 we had more money than applicants.
Where has the money gone so far?
- 2004-The first renewable scholarship was awarded. Scholarship value $2,000
- 2005-Three scholarships awarded each worth $2,000
- 2006-Six scholarships were awarded each worth $5,000
- 2007-Eight scholarships awarded, each worth $4,500
The American Legion Legacy Scholarship has awarded a total of $74,000 in scholarship aid. Recipients have come from: Alabama; California (2 brothers); Florida; Illinois (3 including a brother and sister); Kansas; Michigan; North Carolina; Tennessee; Texas; Washington and West Virginia.
How many applicants do we have?
Beginning in 2004, we have received a total of fourteen (14) eligible applications (as of January 7, 2008).
Who are the applicants?
Parents included eight in the U.S. Army, two in the U.S. Navy, one each in the Air Force and Marine Corps. Three were officers and seven were enlisted (the status officer/enlisted of four could not be determined from the death certificates provided). Five died from hostile action and nine died from non-hostile action. Three of the non-hostile deaths occurred in theaters of operation and involved vehicle or aircraft accidents.
Who decides who gets the scholarship and how much is awarded?
The national treasurer, with the approval of the National Finance Commission, determines the amount of interest available from the trust fund to be given as scholarships. By resolution the National Americanism Commission is empowered to establish further rules, regulations, and guidelines for the selection and award of said scholarship with emphasis on financial need, leadership, scholarship and citizenship. The National Americanism Commission has delegated these duties to the National Committee on Education to implement the scholarship program.
Does it matter if a guy is on active duty stateside and gets killed in a car wreck?
Those eligible to apply for the scholarship shall be the child/children or legally adopted child/children or a child of a spouse by a prior marriage or dependent child as defined under Title 10 USCA by the United States Armed Services of active duty United States military and National Guard, and military reservists who were federalized and die on active duty on or after September 11, 2001.
Will we get a report?
The National Committee on Education reports to the National Americanism Commission during the May meetings the recipients and the status of the program. The NCOE report is included in the Americanism Commission report to the National Executive Committee. A separate copy of the report will be sent to each Department and posted on the Legion Rider web site.
Say, for example, a soldier dies when his kids are 2 and 3 years old. They obviously won't go to college for 15 years or so. Is that money being put away for them?
Yes and no. Yes the money is in the trust. They will have to apply for their scholarship when they are seniors in high school. The number of eligible applicants and the amount of money available will determine the amount of the scholarship award.
How much will we need to raise?
Obviously, the more money we can raise to put into the Scholarship Fund, the more interest will be available each year for scholarship awards. If we had enough money in the fund, we could award full college scholarships each year. Unfortunately, that day is far off. We think today that The American Legion Legacy Scholarship Fund will eventually need a minimum of $20 million in order to meet the expected need for scholarships.
Will someone be contacting these children or will they have to find us to get the scholarship?
Ideally, we would have the names and current addresses of the children who lost a parent. However, that is not possible. The scholarship information is contained in the Legion's publication NEED A LIFT? This 152-page book lists scholarship, grants and loans available. The information is on the Legion's web site. Also NEED A LIFT? booklets are distributed annually to public and private high schools across the nation. In 2007 over 29,000 high schools received a complimentary copy. Hopefully, a representative from the local American Legion post would provide the family with the scholarship information and other benefit information at the time of the service member's death.
Is it a one-time deal?
No. The student can reapply each year, as long as they remain an undergraduate student. Students must be a full-time student and maintain adequate progress towards their degree.
LEGION RIDERS
www.americanlegionriders.net is provided as a service by The National American Legion Riders Information Center (NALRIC). NALRIC and the content of the website are not controlled by The American Legion.
