2010 Projects & Activities
The number of applications remained stable this year, with 68 students applying for a scholarship for the academic year 2010-2011, one more than in the year before. This figure includes 5 recipients from the previous year who wished to renew their scholarship. 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 or a diploma.
As in the previous years, the Foundation allocated several more scholarships than the 3 scholarships stated in our guidelines, since we are not yet supporting any other, larger projects besides the scholarship program. 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.
the scholarship program, no
other project was undertaken during the fiscal year 2010. The Foundation received only one request to support a specific project. After a careful review by the Board, it had, however, to be dismissed based on our guidelines.