Peter Peelgrane Memorial Fund
Adopted by the Colorado Search and Rescue Board on December 19, 1997.
The Colorado Search and Rescue Board (hereinafter referred to as the "Corporation") acknowledges the generous gift from Karen Quinn in memory of her late husband Peter Peelgrane and the matching monies from the Corporation. The Corporation hereby establishes the Peter Peelgrane Memorial Fund (hereinafter referred to as the "Fund"). The intent of this fund is to provide scholarships to the Colorado Search and Rescue Conference (hereinafter referred to as "CSARC").
Selection of Recipients
The Board of Directors of the Corporation will appoint a selection committee at the last general meeting of the calendar year for the next years CSARC. One committee member must be a director of the corporation whose term does not end before the next years CSARC and two others who can be chosen from the membership. Each year Karen Quinn or her representative will be offered a position on the selection committee. The selection committee will elect a chairperson who will be responsible for all actions taken by the selection committee.
The purpose of a scholarship is to help offset the cost of attending the CSARC. The selection committee will maintain a history of all applications and recipients in order for future selection committees to equitably distribute the scholarships. Scholarship recipients should be notified by mail at least 30 days prior to the CSARC.
Recipients shall be awarded their scholarship at that years CSARC. If this places an undo financial burden on a recipient the selection committee chairperson can make other arrangements to insure that the recipient receives their scholarship and attends the CSARC.
The selection committee will grant scholarships based on the following guidelines.
- The need in the applicant's team or region for more educated SAR personnel.
- The past history of the team or region. The hope being that the scholarships will be spread throughout the state.
- The perceived stability of the applicant and their ability to teach what they learn at the academy. (Are they going to be a long term contributor to their team.)
- The individual need of the applicant.
The applicant must be affiliated with a dues paying team or an individual member of the Corporation at the time the application is made. Applications should be mailed to the address specified on the application. Applications will not be accepted before January 1 or after the second Thursday in March. Applications must be accompanied by a letter of recommendation from a local sheriff or SAR team official. Applicants should at a minimum provide a brief history of themselves as it relates to their SAR work and a statement stating how they foresee this training enhancing their ability to assist those in need.
For the 2004 CSARC only, applications will be considered as long as they are received on or before March 31, 2004.
The application and selection committee guidelines along with the names of the recipients shall be provided yearly in the Corporation's newsletter. In addition the address where the current selection committee will receive applications shall be provided.
The general investment strategy for the Fund is to provide a consistent stream of income annually for use as scholarships to the CSARC, and to preserve principal of the fund by establishing a maximum income draw which cannot be exceeded without the fulfillment of certain conditions.
The Corporation shall seek to achieve the highest total investment return consistent with present risks through an appropriate portfolio. It is expected that the officers of the Corporation shall use their best judgment to reduce any unnecessary risk.
Net income (dividends and interest) and principal of the Fund shall be distributed as follows:
It shall be the policy of the Corporation to distribute an appropriate amount of the interest consistent with the above investment guidelines and strategy. The Corporation shall determine the actual amount of the "draw" on the basis of the fund balance as of December 31.
The Corporation may consider liquidations from the Fund in excess of the above-mentioned "appropriate amount". This can only occur, however, if 75% of the current members of the Board of Directors of the Corporation vote in favor of the liquidation.
All of the above-mentioned directors must vote or abstain. Balloting may be performed by mail. Members may not vote by proxy.
Similarly, the Corporation may consider reallocating all or part of the yearly draw to training needs other than scholarships to CSARC. This can only occur, however, if each of the following conditions are met:
- Karen Quinn or her representative are consulted, and
- 75% of the current members of the Board of Directors of the Corporation vote in favor of the reallocation.
If amount available for distribution exceeds the amount requested, the excess shall be added to the general operating budget of that years CSARC or re-invested in the Fund as determined by the Board of Directors of the Corporation.
In the event that the Corporation does not hold a CSARC in any given year, and upon consultation with Karen Quinn or her representative, the Board of Directors can designate another training event for the use of the funds following the same guidelines as above.
Peter Peelgrane Memorial Fund Application Please return to: Peelgrane Fund Colorado Search and Rescue Board PO Box 631452 Highlands Ranch CO 80163 or E-mail: firstname.lastname@example.org Or in person: bring it to the March CSRB general meeting and give it to a selection committee member Date:_______________ Name: __________________________________ CSRB Affiliation:______________________________ Title or Rank:________________________ Mail Address:__________________________________________________ Phone: Home:_________________ Work:__________________ Cell: _________________ E-mail:_______________________________________________ Please write a statement in support of your application briefly describing your history as it relates to SAR work and how you foresee this training enhancing your ability to assist those in need. Also include your specific goals or areas of interest you have in relation to search and rescue. You may use the rest of this page and as many additional pages as you need. Also, you must enclose a letter of recommendation from a local sheriff or SAR team official.