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Honeywell Retiree Clubs Scholarship Foundation

Scholarship Program Operating Procedures

Purpose
The purpose of the Scholarship Program is to identify eligible undergraduate and graduate college students who are descendants of a participating Honeywell Retiree Club of Arizona member and award them money to help reduce their costs for a college education.

Summary
The Scholarship Program is a joint program by Honeywell International (HON) and participating Honeywell Retiree Clubs of Arizona and their members to encourage learning and education by providing financial assistance to college students who are descendants of active or deceased Club members.

The Honeywell Retiree Social Club of Arizona (HRSC) serves as the Club that oversees the activities of the Scholarship Program. 

Operating procedures and finances are managed by the Honeywell Retiree Clubs Scholarship Foundation (i.e., the Scholarship Foundation).

Interested volunteers from each of the participating Retiree Clubs of Arizona can join the Scholarship Foundation Board meetings but will not be a voting Board member.

Funding
The source of the funds for these scholarships is shared between the participating Retiree Clubs of Arizona and Honeywell International as follows:
Honeywell Retiree Social Club of Arizona:   $1,500
Garrett Retirees’ Club:  $1,500
Honeywell International:  $3,000
Additional Honeywell Retiree Clubs of Arizona (to be determined) will fund at the same rate as current participating Retiree Clubs
Individual contributions made through the 501(c)(3) charitable contributions option.
 
Modifications to the rate of annual contribution may be changed with agreement from all participating Clubs.

Funding should be completed by the end of January. 

Award Levels
Generally, awards will be made in the range of $500 to $3,000 per recipient.  The Scholarship Foundation Board may modify the award amounts based on funds that are available.
 
To ensure flexibility in the program, at the discretion of the Scholarship Foundation Board, funds may be:

used to increase individual awards, or

used to increase the number of available awards, or

retained for award in mid-year, if an applicant presents for consideration, or

retained for use in the following year.
 
The Scholarship Foundation Chair will report to the funding entities on the status of funds, twice each year.

School Eligibility Requirements

1.
Must be accredited by the Higher Learning Commission (formerly the North Central Association of Colleges and Schools)

2.
Current qualifying Universities include Arizona’s three major universities:  University of Arizona (UA), Arizona State University (ASU) and Northern Arizona University (NAU).
As funding expands, other Arizona State colleges and universities may be added.

Student Eligibility Requirements

1.
The student must be a legal descendant of an active or deceased member of a participating Honeywell Retiree Club of Arizona.  (A deceased Retiree Club member is defined as a member who passed away while holding active membership in one of the participating clubs.)

2.
The student should have attained a 3.0 or better Grade Point Average (GPA).
While it is the intent of the Scholarship Foundation to ensure awards are provided to students who are serious about studying and graduating, the Scholarship Foundation Board has the flexibility to consider other factors when reviewing grade point average for awards.

3.
The student must be entering the second semester freshman year, a sophomore, a junior, a senior, or in a graduate course of study.

NOTE: Enrolled freshmen may apply during the second freshman semester for their sophomore year, providing they attain a 3.0 GPA or greater in their first semester. Second semester GPA will also be considered for the award.

4.
Students may be enrolled in any field of study, although preference may be given to a student who is enrolled in a technical field, in the event two or more applicants qualify for the same scholarship award.

5.
Candidates must re-apply annually.

Selection Process
Selections are made by the Honeywell Retiree Clubs Scholarship Foundation Board.

Administration of the Scholarship Award Cycle – Key Milestones

December 1:  Application Process Opens

The Honeywell Retiree Clubs Scholarship application will be posted on the participating Honeywell Retiree Clubs of Arizona’s websites with directions as to who to contact in the Scholarship Foundation Board regarding interest.  Information will also be published in the Retiree Club newsletters to ensure members are aware of the application process.

Students are encouraged to complete applications for scholarship awards for the following academic year.

The student submits the application and associated documents to the Scholarship Foundation Board or through their school scholarship process.

April 1:  Application Process closes

The Scholarship Foundation Board reviews all applicants and verifies eligibility.  The Chair requests each Retiree Club’s membership director to verify the eligibility claimed in each application.

The Scholarship Foundation Board reviews and selects the award recipients.

May:  The Chair Reports on award status to participating Retiree Clubs

May / June:  Final awards made and funds distributed

An award letter is prepared for each recipient.  The Secretary/Treasurer will disburse funds.

September:  The Chair Reports to participating Retiree Clubs on awards made

The participating Honeywell Retiree Clubs of Arizona will publish an announcement of the winners in their respective newsletters.


Changes to the Operating Procedures
Any changes to the Operating Procedures must be approved by a majority of the Scholarship Foundation Board.


EXHIBIT A:  Honeywell Retiree Clubs Scholarship Application
(PDF to print, fill in and submit by mail, or scan and submit by email.)
(DOC to download, fill in electronically, and submit by email.)
This application is used by candidates requesting consideration for award under the program.  The application may be modified annually to support the current program year’s goals.


EXHIBIT B:  Scholarship Program Annual Cycle
(PDF to print or download)

This chart shows the activities by month during the program year.




2016/11/15