About the scholarship

On January 5, 2022 The Philadelphia Chapter Johnson C. Smith University (JCSU} Alumni Association established the Philadelphia Chapter JCSU Alumni Association Endowed Scholarship. By doing so, the Philadelphia Chapter pledged to fund the scholarship $25,000 over a five-year period. This document was initiated by Elena Singleton Chapter President, Albert Layton 2nd vice President and Ralph Knotts Teasurer and signed off by the Johnson C. Smith University President, Vice President of institutional Advancement and Senior Vice President of Finance and Administration, (see below). Funding an Endowed Scholarship, the Philadelphia Chapter is now investing in the University versus merely raising money for the University.

Number and Amounts of Scholarships:

The number of scholarships will vary depending upon the amount of investment income. A Scholarship Selection Committee is responsible for selecting the student recipient(s). The endowment payout amount will vary in accordance with investment performance, current conditions, and University payout policy.

Scholarships are generally awarded in March and April of each year for the upcoming academic year. The donors will be contacted by the Division of Institutional Advancement with names of the recipients of the scholarship.

Funding Arrangement:

For and in consideration of the donors’ interest in education and the establishment of this fund, the donors herein pledge to contribute a minimum of $25,000 to establish THE PHILADELPHIA CHAPTER JCSU ALUMNI ASSOCIATION ENDOWED SCHOLARSHIP. The donors will submit the (unpaid) remainder portion of the pledge amount in minimum payments totaling $5,000 per year over a period that does not exceed five (5) years. The donors reserve the right to add to this endowment at any time.
The scholarship will commence in the fall semester after the full endowment principal has been invested for at least 12 months.

To ensure compliance with IRS guidelines regarding charitable deductions associated with donations to this endowment, it is agreed that dominion and control of donated assets are conveyed to JOHNSON C. SMITH UNIVERSITY.

Selection Criteria:
Scholarship shall be awarded annually to students from:

• Philadelphia, Bucks, Chester, Delaware and Montgomery Counties
• Harrisburg and Dauphin County
• Trenton and Mercer County (NJ)
• Camden and Camden County (NJ)
• Wilmington, Newark and Newcastle County (DE)
  

Recipient must:

• Have demonstrated a financial need
• Be a sophomore, junior or senior
• Have and maintain a minimum 2.5 GPA

The scholarship may be renewable depending upon satisfactory academic progress towards a degree.

Administration of the Scholarship:

Administration related to this scholarship endowment is the responsibility of the Office of Financial Aid.

McDonalds Corporation Scholarships

Philadelphia Chapter of Johnson C. Smith University Alumni Association’s Effort Lead By Ralph Knotts Delivered McDonalds Corporation Scholarships to Two Smith Students.