Ackerman, who is on the scholarship committee, told those gathered
that efforts have been under way to make the annual $1,000
scholarship ($500 per semester) an endowed scholarship.
explained that with $20,000 invested as an endowment, 5 percent
could be used each year to provide the scholarship. With continued
community support and investment income, that would make the
scholarship available in perpetuity.
Ackerman stated that through the breakfasts and business
donations, the committee has collected over $4,000. But she was
pleased to tell those on hand that the Woods Foundation has decided
to become involved in the scholarship fundraising, advising her that
they will match funds up to $10,000 to help get the endowment
The Woods Foundation donation was made possible through the
generosity of Robert J. Woods and Joan Jarrett Woods, who
established and funded the foundation to carry on their long history
The new scholarship is open to any ethnic minority student
enrolled at or planning to attend Lincoln College. To be considered,
eligible students must have graduated from a Logan County high
school with a minimum 2.0 grade-point average.
[Text from file received]