Robert (Bob) McNeely Memorial Endowment
The Robert McNeely Endowment
The Robert McNeely Memorial Endowment, established in honor of Robert McNeely who also served as the Chair of the Board of Governors at the University Club, aims to support the educational aspirations of University Club employees and their family members. The endowment provides annual scholarships of $2,000 to deserving candidates. Managed by Lamp of Learning, a nonprofit organization committed to promoting education, the Robert McNeely Endowment is designed to create a lasting impact on the lives of its recipients. With a fundraising goal set at $50,000, the endowment seeks to establish a self-sustaining scholarship program.
This scholarship combines Bob’s passion for assisting young people and his tremendous reach in the business community. The Bob McNeely Endowment scholarship is dedicated to advancing the education of the children of employees who work at the University Club. This fund will be an additional resource to assist first generation, low-income college bound students.
The Lamp of Learning is proud to announce establishment of the Robert (Bob) McNeely Endowment. As a leader at the University Club, Bob understood the value of supporting those around him. This endowment ensures that vision remains a tenant of the club for future generations. Lamp of Learning is pleased to administer this amazing scholarship program in his honor.
FAQ
Who will administer the scholarship fund?
The scholarship fund will be managed by Lamp of Learning, a 501(c)(3) organization with over 20 years of experience in mentorship and scholarship programs.
Who is eligible for the scholarship?
The scholarship is intended for employees and their immediate family members who work at the University Club atop Symphony Towers.
What criteria will be used for selection?
Financial need is a primary consideration in the selection process. The goal is to award the scholarship to those who would benefit the most from this educational opportunity.
How will the selection process work?
The selection process will consist of an initial screening of applications, followed by interviews conducted by a panel. This process is in line with Lamp of Learning's established scholarship awarding practices, which have been in place for nearly two decades. The selection committee will consist of members of the McNeely family, academic professionals, community members, and University Club representatives.
What will happen to the collected funds?
The funds will be used to establish an endowment with a local foundation, which is yet to be determined. Scholarships will be awarded from this endowment on an annual basis.
Is annual fundraising required to maintain the scholarship?
No, endowed scholarships are generally self-sustaining. The principal amount is invested, and scholarships are awarded based on the investment returns, thus eliminating the need for annual fundraising.
What is the racial composition of the workforce at the University Club?
(Note: It's important to note that financial need is the main criterion for scholarship selection and the following demographic breakdown may not necessarily reflect the distribution of scholarship recipients.)
· Asian: 20%
· Hispanic: 30%
· African American: 20%
· Caucasian: 30%
What is the expected income of scholarship recipients?
The average household income of scholarship recipients is anticipated to be between $50,000 and $80,000 per year.
What is the scholarship amount?
The scholarship amount is originally targeted at $2000 per year. The scholarship will be reviewed on a regular basis and may increase based on balance and expected returns.
How are donations to the scholarship fund used?
The scholarship will be awarded to the student and funds will be transferred to the University or College in their name, to be used for academic expenses. Checks will not be issued directly to the students.
Is there a way to volunteer or get involved with Lamp of Learning?
The Lamp of Learning is a mentoring and scholarship nonprofit in San Diego. The best first step in getting involved is to attend an event. If you are interested, visit https://www.lampoflearning.org
Who can I contact for more information?
Contact Paul Bergman, pbergman@lampoflearning.org
How can I contribute?
There are two ways to contribute to the fund. You may send a check or donate with a credit card via PayPal. A tax-deductible receipt will be provided for each contribution.
You may also send a check to:
LAMP OF LEARNING
PO BOX 371343
SAN DIEGO, CA 92137
Please note: “McNeely Scholarship” in the memo