Abaco Scholarship Fund

March 2000 Table of Contents

ABACO SCHOLARSHIP FUND: OPENING DOORS TO A BRIGHTER FUTURE

A scholarship fund re-launched less than two years ago with a gala fund-raiser is living up to its name and its goals - to open the door for talented students from Abaco to a brighter future through academic or vocational education.

"We have raised nearly $500,000, putting us almost half way to our $1 million goal. Already, two students who show much promise have been awarded scholarships are are studying abroad and we know that more are eager to apply for next year's funds," said Ron Jackson, Chairman of the Abaco Scholarship Fund Board of Directors.

The Abaco Scholarship Fund was established in April 1999 to provide financial assistance specifically for students living in Abaco who wanted to pursue an education abroad in any of the fields deemed most necessary for the economic or social development of the island. At the time of the launch, long-time supporters said they had talked about the idea for years, but wanted to make sure funds raised were properly managed and invested, that appropriate tax benefits would apply to foreign citizens who contributed and that an equitable screening system would be in place for applicants.

The Lyford Cay Foundation and the Canadian Lyford Cay Foundation were approached, the fund established and the dream became reality.

"No one has more experience or a better track record managing assets for educational assistance in The Bahamas than the Lyford Cay Foundation," said Mr Jackson. "We felt comfortable that under the Foundation's stewardship a level of confidence would be generated that would help us achieve our goals of opening doors for more Abaconians.

Last year, the Lyford Cay Foundation awarded more than $1.2 million in scholarships, including many to students from Family Islands. Foundation programmes rely on independent screening committees to select applicants for awards. Scholarship funds are endowed and awards are based upon interest on investment to ensure funds are available in perpetuity.

"One of the aspects that impressed us most in working with the Lyford Cay Foundation is that scholarship administration costs of the Foundation are borne by a grant, meaning every dollar donated goes to scholarship endowments," said Mr Jackson.

The Abaco Scholarship Fund places special emphasis on vocational or technical education, organisers explained.

"While the single most important thing we can do to ensure the future of this country is to support education," said Mr Jackson, "the need for technical and vocational skills in the Abacos is especially great. We need land and marine surveyors, agricultural equipment operators, skilled people who can handle diesel machinery and engine repairs, nurses, people trained in hospitality and marina skills, computer hardware and software." Among academic degree programmes, education, agriculture, environmental disciplines, hospitality management and computer sciences will be favoured.

The first two recipients not only showed individual promise, but selected disciplines needed, said Mr Jackson. Anton Lockhart, 22, from Dundas Town, a maintenance technician with Abaco Towns by the Sea, is now studying air-conditioning technology at Dekalb Technical Institute, Covington Newton Campus in Georgia. Shanna Thompson, 18, valedictorian at Forest Heights Academy, is pursuing a bachelor's degree in early education. Both received $5,000 awards.

Application forms for Lyford Cay Foundation awards are available at Abaco central High School and in Nassau at the Counselling Office of the College of The Bahamas and the Manager's Office, Bahamas Technical and Vocational Institute. Forms are also available from the Lyford Cay Foundation, PO Box N-7776, Nassau. According to Roger Kelty, Director of Education Programmes for the Lyford Cay Foundation, there are no specific application forms for Abaco scholarships.

All Abaconian applicants for a Lyford Cay Foundation in the technical or academic areas will be eligible for Abaco Scholarship Fund awards," Mr Kelty said. "The screening committee will see the applicant's home, school or workplace address on the application and the applicant will be considered for the Abaco Scholarship award without being disqualified for other Lyford Cay or Canadian Lyford Cay Foundation awards."

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