EMPLOYEE BULLETIN ON EDUCATIONAL AID FUND

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP84-00780R001400060038-2
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 5
• Document Creation Date: December 14, 2016
• Document Release Date: February 12, 2003
• Sequence Number: 38
• Publication Date: April 20, 1966
• Content Type: MF

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I S 3 ,la 'S
DDS BO
2 0 APR 1966
MEMORANDUM FOR: Chief of Regulations Control Staff
: Employee Bulletin on Educational 41d Fund
Although the Board of Trustees of the Educational Aid lid has approved
suarce of a Bulletin on the subject, the proposed Bulletin attached should
be sv tted for normal coordination. Hopefully, the coordination can be
accomplished in a short time. In witting it you might advise the coordina-
tors of the action of the Board. Please let me know if you receive comments
or aerations for change .
STAT
Attachment
Distribution:
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vr- DD/S Subject w/Z of att
1 - DD/S Chrono
EO-DD/S:VRT:ews (19 April 66)
Deputy Director for Support
Executive Officer to t
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ADMINISTRATIVE - INTERNAL USE ONLY
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Headquarters Employee Bulletin
1966
ANNUAL REPORT, 1965
Sherman Kent, Chairman
Matthew Baird
Robert L. Bannerman
John A. Bross
Ray S. Cline
Desmond FitzGerald
Thomas H. Karamessines
Albert D. Wheelon
Lawrence K. White
The Education Aid Fund was
established in October 1963 to
provide financial assistance to
dependent children of present and
former employees of CIA; children
who, because of such assistance,
could continue education at the
collegiate level. The assistance
is in the form of a grant; it is
not a loan. The Educational Aid
Fund received a tax-exempt status
from the Internal Revenue Service
in January 1964.
Under its Board of Trustees the Educational Aid Fund began
operation in May 1964 by authority The first appeal
for contributions was made to Agency emp oyees during the Combined
Federal Campaign in the fall of 1964; almost $11,000 was contributed.
In the fall of 1965, again during the Combined Federal Campaign,
$11,650 was contributed by employees. Meanwhile, contributions
apart from the fund drives have netted about $3,800. In May 1965
the Board of Trustees awarded the first grants--twenty-five in all,
totaling $12,150--to be applied in the 1965-66 academic year.
STAT
STAT
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Fund Status
1961E Fund Drive
$10,945.38
1965 Fund Drive
11,654-05
Additional Contributions
3,877.37
Interest and Dividend
Income
1+57.15
$26,933.95
Grants for 1965-66 12,150.00
Funds on hand as of
31 December 1965 t14,783-95
Administrative expenses are not shown, since the fund is
operated by Agency officials.
HOW THE EDUCATIONAL AID FUND WORKS
In December of each year the Board of Trustees calls for appli-
cations for grants for the following academic year. (The Executive
Secretary of the Fund sends application forms upon request.) Completed
applications and required supporting papers are returned to the
Executive Secretary no later than the following April first. The
board then meets to review all applications, evaluating each primarily
on the basis of the applicant's scholastic record, his motivation, and
financial need. Other factors in the evaluation include College Board
scores, recommendations from the high school faculty, an essay written
by the applicant, and the financial statement of his parents.
The winners and alternate winners of EAF grants are notified in
June. Payment of the money is normally made in September after each
winner has notified the board of enrollment in a college or university
for the following academic year. This year's recipients are using
their scholarship grants at the following schools: Bucknell University,
Case Institute of Technology, Catholic University, College of William
and Mary, Columbia University, Cornell University, Eastern Baptist
College, George Mason College of the University of Virginia, George-
town University, Michigan State University, New York School of
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Engineering, Old Dominion College, Pacific Union College, Pennsylvania
State University, Saint Joseph's College, San Diego State College,
Shenandoah College, Trinity College, University of California, Uni-
versity of Maryland, University of North Carolina, Virginia Military
Institute, Virginia Polytechnic Institute, and Wheeling College.
The Educational Aid Fund depends entirely upon voluntary con-
tributions. Its main source of support has been from the contributions
made by employees during the Consolidated Fund Drives of 196+ and 1965.
Contributions made separately from official campaigns have also been a
source of support. The Executive Committee of the EAF is now exploring
other means to increase the scholarship award fund, including solicitation
of contributions from former employees and friends of the Agency. Special
emphasis in soliciting outside assistance will be given to "group" con-
tributions to specific colleges and universities and to establishment of
memorial funds in the names of former employees and friends. Meanwhile,
present employees are invited to support the fund in any way within
their means.
In addition to the EAF's regular scholarship grants, there is a
separate, full-tuition scholarship fund to be used for study at the
Massachusetts Institute of Technology. The donor who established this
fund stipulated that dependents of employees of the DDP are to be given
preference, although children of employees in the other directorates
are also eligible. The MIT scholarship requires applicants to certify
acceptance by or attendance at MIT before they are considered for
scholarships. Two members of the Board of Trustees of the EAF serve
as a committee to administer the MIT fund. The committee awarded
three scholarships for the 1965-66 academic year.
The Registrar of the Office of Training maintains information
on various scholarships, fellowships, grants, and loans. Inquiries
on these subjects should be addressed to the Executive Secretary of
the Educational Aid Fund, who, serving also as the Deputy Registrar,
will arrange appointments for counseling.
DISTRIBUTION: ALL EMPLOYEES
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