Portable Sanitation Association International

ASSOCIATIONINSIGHT Portable Sanitation Association International News BIWEEKLY EDITION JUNE 9, 2021 Page 10 History of the PSAI Scholarship Program…continued from page 9 The primary goals were to: • Award $20,000 in scholarships each year with eight $2,500 scholarships to graduating high school seniors and current undergraduate college students. The Committee had by now agreed that the PSAI should offer a smaller number of larger scholarships as opposed to many small scholarships. • Create an endowment with excess contributions over the $20,000 needed each year to be used for the future, which would allow the program to award additional scholarships after an initial five-year pledge period from donors. The fund-raising structure that was determined to best meet these goals was a total pledge amount to be paid out over a five-year period based on various pledge levels: • Diamond—$10,000 Total—$2,000 annually for five years • Platinum—$5,000 Total—$1,000 annually for five years • Gold Level—$2,500 Total—$500 annually for five years • Silver Level—$1000 Total—$200 annually for five years • Bronze Level—$ 500 Total—$100 annually for five years Scholarship America The PSAI chose Scholarship America to administer the new program. Founded in 1958, this organization is highly respected in the field of scholarship administration. They have locations in both Minneapolis and St Peter, Minnesota, as well as in Washington, DC. Since Scholarship America is a 501 (c) (3) charity, gifts made to the PSAI's program through Scholarship America were tax deductible to individual donors, which is an important benefit of partnering with this organization. Launch of the New Scholarship Program The hard work, dedication, and commitment of the Committee began. Phone calls, meetings, presentations, and mailings introduced and inspired members to participate. Scholarship Committee members contacted both former and prospective PSAI members as well as their own long list of personal Association contacts. Rich Vegter coined the phrase, "We should give until it feels good." As the PSAI has done on numerous occasions in its history, members pulled together, and the goals were achieved. Initial Results and Program Growth With the first eight scholarships of $2,500 awarded in 2004, the five-year Pledge Drive Commitments were "incredible" according to Ned. He was interviewed for a PRO Magazine article in 2008 where he summarized the program's results up to that point. "We received pledges of $319,350 for the first five years. Members' generosity [allowed us to award] 46 full- and part-time national and international students…scholarships worth $99,000." Unfortunately, the first five-year campaign ended in 2008 as the Great Recession began. The Scholarship Committee decided to delay the start of the next five-year campaign because of the rapid slowdown in housing and construction markets, which are so vital to the portable restroom industry. With excess funds from the first pledge period, the Scholarship Program was able to begin 2009 with a balance slightly over $220,000. The forward-thinking goal of a self-funding program was realized and used during this economic slowdown. Continued on page 11

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