New Mexico Manufactured Housing Association Scholarship Endowment Fund...
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| Industry | Non-Profit |
|---|---|
| Location | Albuquerque, NM, United States |
| Introduction | The purpose of the endowment is to offer financial assistance, in the form of grants, to selected New Mexico high school graduates who live in a mobile or manufactured home and have the grades and motivation but not the means to attend a college or university of their choice. The ability to send at least one student to college who might not have otherwise attended, and the opportunity for philanthropic minded members of the NMMHA to contribute to a charity directly related to their collective lives are two of several goals accomplished by the establishment of this scholarship. This is a protected perpetual endowment fund with a balance growing at a glacial pace by reinvestment and individual contributions. Started with $15,000, the balance now approaches $40,000. Historically, the annual awards have been one $1,000 grant and one of a lesser amount, to two out of dozens of applicants, and are paid out of the earned interest. |