AS REPORTED in the March RAPS Sheet, the generosity of an anonymous donor and of RAPS members has enabled RAPS to accomplish a long-held dream, the establishment of an endowed scholarship. We are transferring $50,000 to the PSU Foundation to establish a quasi- endowed scholarship to be named the RAPS Robert Vogelsang Scholarship. The process is complex, and several RAPS members have had questions. Answers to some frequently asked questions may help clarify the change. —Joan Shireman Chair, Scholarship Committee QUESTION: What is meant by a “quasi-endowed” scholarship? I understand an endowed scholarship, but not quasiendowed. ANSWER: Endowments establish restricted funds to create investment income for a specific purpose, often specified by the donor. By contrast, quasi-endowments are funds earmarked by a board—rather than by a donor—and are restricted funds from which income is available for a specific purpose, in this instance scholarships. The board retains some control over these funds. QUESTION: Why was it named the RAPS Robert Vogelsang Scholarship? ANSWER: Robert Vogelsang was a professor emeritus of communication and a member of RAPS. When he returned from a regional meeting of retirement associations with the information that most other associations raised money for a scholarship, he was adamant that we needed one. His vision and energy led to the establishment of the scholarship. 3 THE RAPS SHEET APRIL 2022 QUESTION: Is $50,000 the minimum amount required by the Foundation to establish an endowed scholarship? ANSWER: Yes QUESTION: Why is RAPS doing this? ANSWER: The main reason is that the quasi-endowed account will be managed with the PSU Foundation’s investments. Earnings will, over the years, supplement the scholarship and make it more generous. Also, there is some visibility gained by an organization with a generous endowed scholarship. And there is continuity over the years in an endowed scholarship. QUESTION: There is currently $86,000 in the Scholarship account. If $50,000 is transferred to the Foundation, what happens to the remainder? ANSWER: RAPS will fund scholarships from the existing balance of $36,000. And that fund will grow through continued support from membership and the Collette trips. QUESTION: Why was the scholarship amount raised from $4,500 to $9,000? Doesn’t that make it harder to raise enough for the scholarship each year? ANSWER: Yes, but RAPS members are generous. The Scholarship Committee looked at the current estimated cost of education at PSU and decided that we would like our scholarship to be of more help. Many of our scholarship recipients are the first in their families to seek education beyond high school. Their families can provide little financial help. And it is difficult to combine university studies with multiple jobs. A generous scholarship can be the difference between continuing in a program and abandoning the endeavor. Q&A: Important changes to the RAPS Scholarship explained Joan Shireman Upcoming RAPS events MAY Thursday, May 19 “Supported Conversation for Aphasia,” a presentation by Susan Ginley, clinical professor in Speech and Hearing Sciences, on a communication method to encourage conversation when working with someone, such as a stroke victim, who has lost the ability to communicate. AUGUST Thursday, August 18 Mark your calendars for the August picnic! Details will be announced in the summer issue of The RAPS Sheet. SOPRANO TAYLOR HULETT, accompanied by Chuck Dillard, opera program music director, sings an aria from Merry Wives of Windsor at the March 17 RAPS meeting. The PSU Opera Program will stage four performances of the opera at Lincoln Performance Hall between April 22 and May 1. Pat Squire photo
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