ISA Education Foundation

SCHOLARSHIP CRITERIA as presented to IRS (with minor changes):

NEW APPRAISER SCHOLARSHIP The ISA Education Foundation (Foundation) was formed to advance education related to personal property appraising and to assist individuals through education develop and improve their capabilities in personal property appraising. For many individuals, the cost of courses, seminars, and other educational programs (collectively, "course") is a significant obstacle in obtaining education related to personal property appraising. In furtherance of its mission, the Foundation has developed the ISA Education Foundation New Appraiser Scholarship. The purpose of this scholarship is designed to help individuals with less than two years of experience in personal property appraising with a demonstrated financial need to pursue educational courses related to personal property appraising.

The Foundation intends to award two scholarships in the amount of up to $750 individuals engaged in or interested in learning about personal property appraising. Awards will be based on financial need and a candidate's explanation of how the scholarship and the educational course in which the scholarship is sought will help develop or improve his or her personal property appraising capabilities. The scholarships may only be used for educational courses. If you are qualified and interested in applying for a scholarship please complete and submit a copy of the attached application.

Minimum Eligibility Criteria

Engaged in personal property appraising for less than two years?
____yes _____no

Will Scholarship be used for educational courses related to personal property appraising?
_____yes _____no

(NOTE: a "no" answer to either of the above questions disqualifies the applicant.)

Demonstrated financial need. (0-5 points) Demonstrated interested in personal property appraising. (0-5 points)

Directors, officers, and employees of the International Society of Appraisers and the ISA Education Foundation, members of the ISA Education Foundation Scholarship Review Commission and their relatives are not eligible to apply for ISA Education Foundation Scholarships.

(possible 10 points total)

STUDENT SCHOLARSHIP The ISA Education Foundation (Foundation) was formed to advance education related to personal property appraising and to assist individuals through education development to improve their capabilities in personal property appraising. In furtherance of its mission, the Foundation has developed the ISA Education foundation Student Scholarship. This year the Foundation intends to award two scholarships in the amount of up to $750 to students enrolled at an accredited university, college, junior college, or community college or related institutions such as trade and/or professional schools. These scholarships will be awarded to students majoring in art history, museum sciences or other majors that support a future career as a professional personal property appraiser.

Awards will be based on scholastic achievement, financial need, character, leadership and the candidate's commitment to and interest in personal property appraising. The scholarships may be used for:

Tuition at the university, college, junior college community college, trade and/or professional school at which the candidate is enrolled: or

Educational courses, seminars, or programs related to personal property appraising, but separate from a candidate's degree program.

Minimum Eligibility Criteria

Currently enrolled at an accredited community college, junior college, college or university or related trade and/or professional school?
_____yes _____no

GPA of 3.0 out of a possible 4.0 GPA for all course work completed to date (or comparable scoring).
_____yes _____no

Art history, museum sciences, or similar declared majors, which tend to support a career in personal property appraising.
_____yes _____no

Will scholarship be used for tuition in connection with a degree program or in connection with an educational course related to personal property appraising?
_____yes _____no

(NOTE: a "no" answer to any of the above questions disqualifies the applicant.)

Expressed interest in the personal property appraising profession. (0-5 points) Demonstrated financial need. (0-5 points)

Directors, officers and employees of the International Society of Appraisers and the ISA Education Foundation, members of the ISA Education Foundation Scholarship Review Commission and their relatives are not eligible to apply for ISA Education Foundation Scholarships.

(possible 10 points total)

EXPERIENCED APPRAISER SCHOLARSHIP

The ISA Education Foundation (Foundation) was formed to advance education related to personal property appraising and to assist individuals through education develop and improve their capabilities in personal property appraising. For many individuals, the cost of courses, seminars, and other educational programs (collectively, "course") is a significant obstacle in obtaining education related to personal property appraising. In furtherance of its mission, the Foundation has developed the ISA Education Foundation Experienced Appraiser Scholarship. The purpose of this scholarship is designed to help individuals with two or more years of experience in personal property appraising with a demonstrated financial need acquire education related to personal property appraising.

The Foundation intends to award two scholarships in an amount not to exceed $750 to individuals engaged in personal property appraising. Awards will be based on financial need and a candidate's explanation of how the scholarship and the educational course for which the scholarship is sought will help develop or improve his or her personal property appraising capabilities. The scholarships may only be used for educational courses. If you are qualified and interested in applying for a scholarship please complete and submit a copy of the attached application.

Minimum Eligibility Criteria

Engaged in personal property appraising for 2 or more years?
_____yes _____no

Scholarship is to be used for educational courses related to personal property appraising?
_____yes _____no

(NOTE: a "no" answer to either of the above questions disqualifies the applicant.)

Demonstrated financial need. (0-5 points)

(possible 5 points total)

SELECTION PROCEDURE

A Review Commission will be formed consisting of one member of the Foundation Board (to be appointed by the Chair) and the Chair of each ISA Division, those being Appreciable Residential Contents, Fine Arts, Gems and Jewelry and Machinery and Equipment. (If the Chair of the division does not wish to serve on the commission, they may appoint a person from their division.)

Scholarship applications will be received by the Foundation's Executive Director only. The Executive Director will inform the Foundation Chair and the Chair of the Review Commission of application receipts on a weekly basis during the application period. Blind applications will be forwarded to Review Commission members for review at the close of the application period.

Only applications that are complete (all questions answered) and for which applicants meet MINIMUM eligibility requirements will be considered by the Review Commission.

Once reviewed and judged, the Review Commission will make recommendations to the Foundation Board as to who should receive a scholarship

The Foundation Board will then award the final scholarships and determine the amount of money to be given to each scholarship recipient.

For the year 2007/08, six scholarships shall be awarded, two in each category, each award amount not to exceed $750.

Applications will be judged by the Review Commission on a point system as listed above.

ADVERTISING THE SCHOLARSHIP PROGRAM

The Foundation will notify the public of scholarship availability as follows:

Notification in the ISA Newsletter Professional Appraisers Information Exchange
Notification on the ISA Website
A press release will be sent to selected personal property appraisal organizations such as ASA and AAA as well as WAJA, NAJA and Machinery and Equipment (check with Anne Blumer and Division Chairs as to exact recipients of these news releases.)
A press release will be sent to selected colleges and universities that teach appraisal studies and related subjects.
A press release will be sent to listing services that advertise scholarships to appropriate venues.

CALENDAR

September, 2007 - August, 2008Scholarship Period (NOTE: Scholarships must be used within this period. Extensions will not be given)
March 1, 2007 Notification of Scholarship availability will be published.
April 1 - June 30, 2007 Scholarship application period.
July, 2007 Scholarship applications reviewed by Review Commission
August, 2007 Review Commission recommendations to Foundation Board
August 30, 2007 Foundation Board selects final recipients and award amounts
September 1, 2007 Scholarship recipients announced (NOTE: Recipients will be made pubic. However, amounts of scholarship will remain confidential)