The Episcopal Actors' Guild of America, Inc.
"Charitable help for performers of all faiths"
POLICIES AND PROCEDURES GOVERNING THE
ADMINISTRATION OF THE THOMAS BARBOUR
MEMORIAL SCHOLARSHIPS & AWARDS PROGRAM
(Approved by the EAG Council on 9/21/01. Further amended on 7/7/05, 10/5/05 & 2/15/07)
I.) THE SCHOLARSHIPS & AWARDS COMMITTEE
There shall be a Scholarships & Awards Committee charged with the responsibility of overseeing the administration and development of the Thomas Barbour Memorial Scholarships & Awards Program. It shall be a Standing Committee as defined in the E.A.G.’s By-Laws and shall be comprised of seven individuals including, ex officio, the currently serving President, Warden and Executive Director of the EAG. In addition, four other members of the Scholarships & Awards Committee shall be appointed by the Council annually. The Scholarships & Awards Committee shall regularly report to Council all income and expenses for the Thomas Barbour Memorial Scholarships & Awards Program and shall also present a written report at every Annual Membership Meeting.
II.) THE SCHOLARSHIPS & AWARDS ENDOWMENT FUNDS
1. Scholarship funds which had previously been invested as part of the General Endowment Fund shall have their assets combined at their values as of April 1, 2001 and shall henceforth be known as the Scholarships & Awards Program Endowment Funds. These funds shall be separately invested, as part of the EAG Charitable Programs Endowment. (CPE)
2. As a part of the EAG Charitable Programs Endowment (CPE), the Scholarships & Awards Program Endowment Funds shall be invested to yield interest and/or dividend income of 5% per annum. Interest and dividend income from the invested Scholarships & Awards Program Endowment Funds shall as a matter of policy always be reinvested into said account and shall be restricted to the purpose of providing monies for annual scholarship awards towards the tuition costs of students at the American Academy of Dramatic Arts (AADA) or to students at such other accredited educational institutions as may be decided by the Scholarships and Awards Committee and approved by vote of the Council.
3. The Scholarships & Awards Program Endowment Funds shall be invested to best serve in perpetuity the purposes for which each of the individual Scholarships and Awards were in all good faith originally established. These investment plans shall at all times protect and preserve the integrity of the Scholarships & Awards Endowment Funds and the dividends and interest derived from these funds shall never be used for any other purpose.
4. The Scholarships & Awards Committee shall undertake and maintain an ongoing fundraising effort to benefit the Scholarships & Awards Program and/or its individual Scholarships or Awards from any and all resources it may develop including but not limited to: benefit events, grant proposals to foundations, solicitation of corporate contributions, memorial gifts from individuals and appeals to the general public.
5. To ensure that all Scholarships will grow on an ongoing basis, any restricted income received for the Thomas Barbour Memorial Scholarships & Awards Program from the EAG’s Annual Membership Giving Campaign or from any other source which is not designated to a specific scholarship, shall be allocated to benefit whichever individual Scholarship Fund has the least net worth at the time.
III.) THE EAG’S THOMAS BARBOUR MEMORIAL SCHOLARSHIPS & AWARDS PROGRAM - POLICIES AND PROCEDURES
1. Scholarships provided by the EAG’s Thomas Barbour Memorial Scholarships & Awards Program shall always be awarded exclusively to students of the performing arts and playwrights who are EAG members.
2. The several individual Scholarships administered by the EAG’s Thomas Barbour Memorial Scholarships & Awards Program shall at all times and with the utmost good faith serve and follow the intentions and purposes for which they were originally established. Those originally designated for the benefit of students at the American Academy of Dramatic Arts (A.A.D.A.) shall not be used for students at other educational institutions.
3. If and when the A.A.D.A. should ever cease to exist as an incorporated entity or as an accredited educational institution, those scholarships which had been awarded exclusively to students at the AADA may then be assigned to students of the performing arts enrolled at one or more other educational institutions. Said alternative educational institutions shall then be determined by majority decision of the Scholarships & Awards Committee, and shall be agreed upon by vote of the EAG Council as an amendment to these Policies and Procedures.
4. It shall be a policy of the EAG’s Thomas Barbour Memorial Scholarships & Awards Program that only those individuals who are awarded EAG Scholarships or Awards shall benefit from the Program. No other EAG Program or the General Endowment Fund may benefit from income derived from the invested Scholarships & Awards Endowment Funds. Furthermore, the EAG General Endowment Fund shall subsidize the usual applicable investment fees for the EAG Scholarships Endowment Funds.
5. Each student who is a recipient of an EAG Scholarship shall receive an individually customized EAG Scholarship Award Certificate, a brief biography commemorating the person for whom the Scholarship is named and a one-year EAG Professional Membership the cost of which shall be borne by the EAG’s Administrative budget. Recipients of the Annual Thomas Barbour Memorial Playwright's Award must already be EAG members in order to be eligible to submit a play for consideration.
6. If it is determined to be in the best interests of the Guild and the EAG’s Thomas Barbour Memorial Scholarships & Awards Program, new scholarships and awards may from time to time be conceived and proposed to the EAG Council by the Scholarships & Awards Committee and, if approved by vote of the Council they may be created and established.
7. The establishment of future Memorial Scholarships through the EAG's Thomas Barbour Memorial Scholarships & Awards Program to honor and commemorate individuals of the performing arts community is generally to be encouraged, and policies and procedures for the establishment of such new Scholarships or Awards shall be created by the Scholarships & Awards Committee and presented for approval to the Council as an amendment to this document.
8. From time to time, particularly if and when the General Endowment Fund has earned especially positive dividend and interest income, the Scholarships & Awards Committee may recommend to the Council that the funds awarded by the EAG’s Thomas Barbour Memorial Scholarships & Awards Program that fiscal year be paid out of the General Endowment Fund instead of from the EAG Scholarships & Awards Endowment Fund. This will allow the Scholarships & Awards Fund to grow at an accelerated pace and will make productive use of windfall income by restricting it to the more conservatively invested Scholarships & Award Endowment Funds.
9. To maximize public relations value the words “The Episcopal Actors’ Guild of America’s” shall precede the name of the individual scholarship in all press releases and printed materials intended for the public.
IV.) THE E.A.G. SCHOLARSHIPS
THE VINTON FREEDLEY MEMORIAL SCHOLARSHIP (VFMS)
- Established in 1968 with a $10,000 bequest from Mr. Freedley.
- $1000 is awarded annually in September to students at the American Academy of Dramatic Arts.
- As of 1 April, 2001 its value was determined to be $16,335.
- On 1 April 2005 its value was $21,000.
- On 1 April 2006 its value was $21,822.
- On 1 April 2007 its value was $24,801.
THE TESSA KOSTA SCHOLARSHIP (TKS)
- Established in 1974 with a gift of $10,000 from Ms. Kosta.
- $1000 is awarded annually in September to students at the American Academy of Dramatic Arts.
- In 2001 Council voted to allocate to it all future royalties from “No, No, Nanette” received since April 1st, 2000, in recognition of the fact that these royalties were a bequest from Ms. Kosta’s husband Richard Madden. On October 5th, 2005, Council voted to amend this policy, and instead deem all “No, No, Nanette” royalties as unrestricted income to the Scholarships Program, to benefit all EAG Scholarships, as per paragraph II, Number 5, above.
- As of 1 April, 2001 its value was determined to be $16,405.
- On 1 April 2005 its value was $21,000.
- On 1 April 2006 its value was $21,822.
- On 1 April 2007 its value was $24,801.
THE LON C. CLARK SCHOLARSHIP (LCCS)
- Established in May, 1997 with $2200 voted by Council from the General Endowment Fund.
- $1000 is awarded annually in January to students at the American Academy of Dramatic Arts
- As of 1 April 2001 its value was determined to be $12,951.
- On 1 April 2005 its value was $21,000.
- On 1 April 2006 its value was $21,822.
- On 1 April 2007 its value was $24,801.
THE CLAIRE HARRIS STRAKOSCH MEMORIAL SCHOLARSHIP (CHSMS)
- Established in 1972 by Margaret Grant Plumb with a $10,000 bequest from the Estate of Claire Harris Strakosch.
- It is hereby recognized and acknowledged as a part of these Policies and Procedures that EAG Council member Nicholas Pavlik is presently the sole Trustee of the Margaret G. Plumb Irrevocable Trust which governs the Claire Harris Strakosch Memorial Scholarship. It is further recognized and stipulated that pursuant to certain provisions in Mr. Pavlik’s Will the EAG’s President, Warden and Executive Director, ex-officio, will in future be delegated as the Trustees of the Margaret Grant Plumb Irrevocable Trust. As sole Trustee, Mr. Pavlik may decide all policies and procedures governing the Strakosch Memorial Scholarship and may also determine all criteria relating to its administration.
- On 1 April, 2001 the Margaret Grant Plumb Irrevocable Trust was valued at approximately $20,000.
THE GEORGE C. SCOTT MEMORIAL SCHOLARSHIP (GCSMS)
- Established in 2001 with the cooperation of his sons Campbell and Alexander Scott, and the Theatre Arts Department at the University of Missouri’s School of Fine Arts at Columbia, Missouri.
- A fundraising drive for this Scholarship will be undertaken after adoption of these Policies and Procedures.
- It will benefit students of Theatre Arts at the University of Missouri’s School of Fine Arts.
- On 1 April 2005 its value was $17,580.
- On 1 April 2006 its value was $21,834.
- On 1 April 2007 its value was $24,801.
THE PETER HARRIS / TED TILLER MEMORIAL SCHOLARSHIP (PH/TTMS)
- Created 14 November 2001 by vote of the Council with $15,000 from a bequest from the Estate of Peter Harris and named in memory of Vice President Emeritus Peter Harris and his longtime partner Ted Tiller to benefit students at the American Academy of Dramatic Arts where Peter taught for a time.
- As of 1 April 2002, its value was determined to be $15,000.
- On 1 April 2005 its value was $21,000.
- On 1 April 2006 its value was $21,822.
- On 1 April 2007 its value was $24,801.
EAG's ANNUAL THOMAS BARBOUR MEMORIAL PLAYWRIGHT'S AWARD
- Established 15 February 2007 by vote of the Council with a memorial gift of $5250 from Janet Barbour Carhart in honor of her uncle Thomas Barbour, to endow, in perpetuity, an annual award of $250. Council then voted to add $1250 from a recent bequest to the Guild from the Barbour Estate, to supplement the award with $250 annually for the next 5 years, thereby making the total annual award $500. In June of 2007, Mr. Barbour's sister, Alison Barbour Fox, generously increased the endowment with a $5000 donation, doubling the endowment fund and providing a fully endowed annual award of $500. In July of 2007, the Lamb's Foundation added a grant of $1000.
