Foundation boosts education with over 1 million in scholarships
October 14, 2024 | Manitowoc School District, School Districts, Wisconsin
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The foundation has successfully raised over $1 million for various projects, including improvements to the Rubik Municipal Field and support for the Academic Booster Club, which funds student academic programs. The foundation's bylaws have been updated, allowing for a maximum of 15 directors, with plans to increase the current board from 11 to 12 members.
A key focus of the foundation is its scholarship and student loan programs. This year, the foundation expanded its student loan offerings, increasing the maximum loan amount from $8,500 to $10,000, with zero interest while students are enrolled and a six-month grace period post-graduation. Currently, the foundation manages approximately $1.2 million in outstanding student loans.
In addition to loans, the foundation awarded $239,000 in scholarships to the most recent graduating class. However, it was noted that many scholarships went unawarded due to a lack of applicants, a trend attributed to the lingering effects of the COVID-19 pandemic. The foundation plans to enhance outreach efforts to raise awareness about available scholarships and loans among students and parents.
The foundation's total assets currently stand at $8.675 million, with a significant portion held in scholarships at the Lakeshore Community Foundation. Board members emphasized their commitment to sustaining the legacy of academic excellence and co-curricular activities at Lincoln High School, aiming to engage more community members and increase donor support in the coming year.
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