Mission Statement
The Hoitsma Fund
Tillie Hoitsma was initiated into Alpha Chapter in April 1954. She served our chapter as Vice President and Program Chair from 1958 to 1960 and as Chapter President from 1960 to 1962. She was Personal Growth and Leadership Chair from 1966 to 1967 and Nominations Chair in 1968.
Tillie taught Home Economics in Dover, NJ for 37 years and in Levittown, NY for 2 years. She served the Dover Education Association as Secretary/Treasurer and as both Trustee and Secretary/Treasurer of the Dover College Club. She co-chaired the Family Relations Committee of the New Jersey Home Economics Association. She was an active member of the Morris County Retirees Education Association. Tillie also spent time in London, England as part of a teacher exchange program.
Ms. Hoitsma obviously practiced the lessons she taught about budgets and managing the family finances. When she passed away on September 10, 1993, she left an estate valued at more than $1,168,000. Alpha Chapter was one of seven institutional beneficiaries that shared the bulk of her estate and was honored to receive more than $85,000.
Tillie's will specified that the money was to be used for "...scholarships for deserving students that are members of Delta Kappa Gamma, Alpha Chapter..." In accordance with this direction, Alpha Chapter established a Board of Trustees to establish criteria for awarding the money and to oversee the administration of the Hoitsma Fund.
The Hoitsma Board of Trustees consists of five members, four of whom are elected from among the chapter members for a term of two years, on a staggered schedule of two each, at the time of the Chapter general elections. The fifth member is the Scholarship Chair for the current biennium. The Chapter President appoints the Hoitsma Chair/Administrator from among the elected members of the Board of Trustees. Her appointment must be ratified by majority vote of the Chapter membership (required by the bank). The term of the Chair coincides with the Chapter President's biennium. She is responsible for the administration and disbursement of Hoitsma funds, as directed by majority vote of the Board of Trustees. The Hoitsma accounts are held separate from the Chapter's general fund. Accounts require the signature of the Hoitsma Board Chair and/or the Chapter Treasurer. The Hoitsma Board of Trustees meets at least once each year to review applications and criteria for awarding grants. An application must be approved by a majority of the Trustees, who also determine the amount to be granted. At the discretion of the Chair, members may be polled by telephone or email to expedite timely disbursement of funds as applications are approved. The decision of the Trustees on any given application is final.
The bulk of the Hoitsma bequest is currently held in Certificate of Deposit accounts. Interest earned is transferred to a savings account as the certificates mature and are reinvested. money market account. Interest from the certificates of deposit is automatically credited to the money market account by the Bank as it accrues. The amount of money available at any given time is dependent upon the status of Hoitsma Fund investments. Therefore, it is important to give advance notice of anticipated needs and to submit applications as early as possible to guarantee availability and equitable distribution of funds. To date, all approved grants have been awarded from monies held in the interest-generated savings account, although the Trustees have the authority to utilize up to 10% of the principal in any given biennium. every effort has been made to award grants from accrued interest. However, as interest rates have declined, principal has also been distributed. The Trustees have the authority to utilize up to 10% of the principal in any given year.
In order to sustain the viability of the Hoitsma Fund, the Trustees have revised the award criteria (as of March, 2012) to include the following limitations:
- The maximum amount available for any one application shall be one thousand dollars ( $1000.00) .The actual amount to be awarded shall be determined by majority vote of the Board of Trustees.
- The total amount that may be awarded to any one member is limited to one thousand dollars ($1000.00) per year. The Board of Trustees reserves the right to make an exception for special circumstances, as determined by a majority of the Trustees.
- In consideration of the financial status of the Fund and recent and anticipated grant applications, the Trustees shall determine the total amount of money designated to assist chapter attendees at each specific regional conference or international convention.
A Hoitsma Fund Grant may be awarded for:
- Graduate coursework, matriculated or non-matriculated.
- Attendance at conferences, workshops, seminars, lectures, etc.
- Study abroad. (Tuition, registration, books, materials, accommodations, etc.)
- Attendance at DKG regional or international conventions. The amount of the award will be determined by the Trustees based upon the availability of funds and the number of members applying. Each applicant will be eligible to receive the same amount, to be determined by dividing the amount designated by the Trustees by the total number of applicants; said amount not to exceed five hundred dollars ($500.00) per grant and not greater than actual approved expenses incurred and not reimbursed from other sources. (Costs incurred by attendance at the state convention are not eligible.)
- Other educational pursuits deemed appropriate by a majority of the Board of Trustees.
A Hoitsma Fund Grant applicant must:
- Be an active member of Alpha Chapter for at least TWO years. In considering the approval of an application and the determination of the size of the award, favorable consideration will be given to applicants who have demonstrated a willingness to assume leadership roles in the Chapter.
- Demonstrate the educational value of the experience for which the grant is
requested and itemize the expenses for which the monies would be used.
- Be ineligible for reimbursement for these expenses from any other source,
including the applicant's school district.
- Complete and submit the required application and documentation to the Board
of Trustees. Grant is payable upon satisfactory completion of the educational experience for which it was awarded.
- At the request of the Board, present to the Trustees and/or to the Chapter a report or program based on the experience for which the grant was awarded.
PLEASE NOTE:
For the 2012 International Convention in New York City, the Trustees have determined that the amount of Hoitsma money available for disbursement to all attendees shall not exceed two thousand five hundred dollars ($2500.00).
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