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2007 Projects & Activities

Scholarship program
The steady increase in applications for our scholarship program also continued in 2007. For the academic year 2007-2008, the Foundation received 61 applications, including three recipients from the previous year who wished to renew their scholarship. This represented a 7% increase compared to 2006. After a thorough and careful review of all candidates, the Foundation decided to support 7 students, with amounts ranging from $1'000 to $2'500. All students were undergraduates studying towards a bachelor's degree.

Due to the fact that the Foundation is not yet supporting any other projects besides the scholarship program, the Foundation Board decided to allocate on an exceptional basis several more scholarships than usual. The reason for this measure is that under Swiss foundation law, charitable foundations are not allowed to build up too large financial positions in excess of their initial endowment.

Other activities
Besides the scholarship program, no other project was undertaken during the fiscal year 2007. The Foundation did not receive any demands or requests to support a specific project or activity.