Posted by USBC
The $3.5 million allocation is the largest investment earnings allocation made by the SMART Board over the past seven years.
The SMART Board reviews income earned from investments to determine the allocation. Any available investment earnings are allocated each May, and this year’s allocation will be shown this week as available unassigned funds for Providers to use for scholarships.
Since 2017, the SMART Board has returned $7 million in investment earnings allocations. This year’s allocation is from investment earnings in 2019.
“The SMART Board is thrilled to be able to make such a substantial allocation for additional youth scholarships,” said Steve Moehrle, chair of the SMART Corporation Board. “The allocation provides additional education opportunities within our sport. The SMART Board continues to follow conservative investment strategies to protect SMART funds and it is great to deliver these significant earnings for the youth bowling community.”
The SMART Board provided investment earnings allocations of $1.75 million in both 2018 and 2019 and made a $1 million distribution in 2017.
Providers may only use earnings allocation funds for scholarships.
The SMART Board also saw long-serving member Wally Hall retire from the board. Hall was the first chair when the SMART Bowling Scholarship Funding Corporation was created in 2010 as an independent entity and served in that position until 2018. He has been involved in bowling for more than 60 years and is a past president of the Bowling Proprietors’ Association of America (BPAA).
The six-member SMART Board places the largest portion of earned scholarships in conservative securities with remaining assets invested in a diversified portfolio expected to yield larger returns. The majority of investment earnings are allocated for additional scholarship awards through participating organizations and providers, with a small portion used to cover administrative costs and investment fees.
The SMART Bowling Scholarship Funding Corporation is dedicated to the management, protection and promotion of the SMART scholarship funds. The United States Bowling Congress staff oversees the day-to-day operation of the program.
Visit BOWL.com/SMART to learn more about the SMART program.