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.
Retiree Club Membership Requirement
As part of the applicant review process, the Scholarship
Board will confirm that the applicant’s listed relative is
an active or deceased member of a participating Honeywell
Retiree Club of Arizona.
Active membership is defined as membership as of December 1
of the year the scholarship application process
begins. (Example: for the 2019-2020 program
year, active membership must be in place by December 1,
2018.) A deceased Retiree Club member is defined as a member
who passed away while holding active membership in one of
the participating clubs.
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.