Cahill Black Point Education Fund

We are pleased to announce that The Cahill Black Point Education Fund is now a permanent Fund of the Community Foundation of Eastern Connecticut (CFECT) located in New London, Connecticut. CFECT is a community foundation that has been active in Eastern Connecticut since 1983, and manages about $38 million in assets, including the management of over 80 scholarship funds.

The concept of a Black Point Fund originated with the Stent Family, and 12 years ago was changed in name to The Cahill Black Point Education Fund. The goal of our Fund has always been threefold: (a) to build an endowment that will last in perpetuity; (b) to grant awards to at least two individuals who will be or are attending a post-secondary educational institution (undergraduate); and (c) to base the award on a blind essay about the significance of Black Point in the applicant’s life. Applicants must be members of the Association or their direct descendants. Those rules are outlined below and will be used by CFECT.

As you are aware, the Fund has been supported significantly by the proceeds of the Black Point Golf Tournament as well as by personal donations. Through the years, with careful investing, our fund has grown to over $50,000. Under the fiduciary leadership of Brian Comer, we have managed, even through tough economic times, to increase the money in the fund. CFECT requires us to keep a separate account with about $4,000-5,000 in it so that we have funds available to run fundraisers such as the golf tournament, letter writing campaigns or any other event we may decide to host as we continue to build the Fund. The CFECT will assume the fiduciary and certain administrative obligations of the Fund. We will continue to have Advisory capacity over the Fund. More details about the management of the Fund and the scholarship application process appear at the end of this letter.

Our goal is to make the Cahill Black Point Education Fund self-sustainable. We are aiming to raise a total of approximately $100,000 in order that the Fund may earn enough interest to make the grants to students, in perpetuity. We will continue to raise money for the Fund through our golf tournament and other fundraising events.

We also warmly welcome personal donations which can be made directly to the Fund at CFECT. If by check (payable to CFECT) please include in the MEMO portion of your check, that the proceeds are to go to The Cahill Black Point Education Fund.

You may also make a gift online at CFECT’s website at www.cfect.org. Click on “Make a Donation” at the bottom of the page and then choose the Cahill Black Point Education Fund in the drop down menu of funds as you make your way through the gift form.

Our goal is to maintain the spirit of a very friendly, small community scholarship fund as well as to build a permanent and self-supporting endowment for years to come. Please look for our updates on the website. Thank you to all members, past, present and future, who continue to work with us to ensure our continued success.

Sincerely,

Ellen Spalluto
Anita Schepker
Brian Comer
Cathleen Laffin
Brendan Fox, Sr., Senior Advisor

Cahill Black Point Education Fund Information:

1. The Fund name would remain the same, but it will be run and managed by CFECT. Reports on the Fund are available at the Foundation.

2. The existing Black Point Advisory Members will become Advisors to CFECT and will solicit interested parties about becoming future Advisory Members. CFECT would like to keep the number of Advisors to no more than five. The Advisors will help CFECT with communications to the membership and the solicitation of Black Point judges to score the addition as well as to continue its fundraising efforts to grow the Fund.

3. Beginning in January 2013, CFECT will change the timeline for applications to April 1 for applicants in order to coordinate more completely with a student’s academic year. The award recipients will be announced at the Annual Meeting in May each year.

After January 1, 2013, applicants who are seniors in high school or who are attending a post-secondary institution and who have not won a scholarship previously from the Fund may go online to www.cfect.org, click on the tab “Scholarships” and then click on the listing of scholarships. The Cahill Black Point Education Fund scholarship will be listed. The new method of application will allow for all potential applicants who may not be in or from Connecticut to have the opportunity to apply.

4. We will post this information on the Black Point website where all will be notified about the essay application and financial status of the Fund. CFECT will have a standard application available on line and by request.

5. The essay question will be to state the significance of Black Point Beach in the applicant’s life. CFECT endorses the simplicity and community feel of an essay about the Beach Association, distinguishing it from other awards. As is the case now, there will not be any consideration that the award be based on academics, extracurricular activities or financial need. As mentioned, the CFECT has its own basic application form which may require information for their compliance but the bottom line is that the essay would be tailored for the Cahill Black Point Education Fund. The applicant must ensure (a) graduation from high school in good standing and (b) attendance at an accredited post-secondary institution (and it will be limited to undergraduate school). As in the past, there will be at least two winners each year.

6. The requirement that you must be an owner, child of an owner, grandchild or great-grandchild (i.e. direct descendant) of a property owner/ member in Black Point would remain.

7. Advisors to CFECT and Association members would still be responsible for fundraising for the Fund, such as running the golf tournament or any other fundraiser deemed appropriate.

8. Advisors will solicit Black Point Members to be judges of the essays (please submit your names to any of us if you are interested in judging the essays). The requirement that a judge cannot have an affiliation to an applicant will remain. CFECT will handle all paperwork, notify the winners of their award, and notify Black Point Advisors.

9. CFECT will manage the money, administration, and send letters for all tax deductible gifts to donors.

10. CFECT will notify winners and mail the checks directly to their educational institutions to get applied to tuition or expenses.

Below are the essay requirements that will remain in place with the CFECT:

Application

The CFECT application requires a range of information including the applicant’s Name, Home Address, Phone Number (home or mobile), Black Point Address, Name of member at BPBC (you must be a direct descendant, owner, child, grandchild, great-grandchild, etc), Name of high school attended and the name of the accredited post-secondary institution where student plans to attend full-time.

Essay Rules

Length: 500 words (minimum).
Do not mention your name or any names in the essay; you can say, for example, my father, my sister, but we do not want to be able to identify the applicant by the essay.
Essays are judged on content, writing style, syntax and grammar.
Essays are reviewed and judged by a five (or more) person panel of BPBC members who are not on the Board of the Fund and who do not know the names of any of the applicants to ensure fairness and objectivity. The judges read all of the essays and score each one; the top two scorers will receive scholarships.
If you are a previous winner, you may not apply for an award.

We also require that the applicant attest that they are the sole author of the essay.

Go to CFECT to apply online.

Contact
Phone: 860-442-3572
Contact: Alison C. Woods
Director of Gift Planning
Community Foundation of Eastern Connecticut
147 State Street
New London, CT 06320
860-442-3572
www.cfect.org