Named Endowed Scholarships

Program Guidelines

Overview/History
The purpose of the Named Endowed Scholarship is to honor a CCIM, CCIM Chapter, Individual or Corporation for their dedication, commitment, outstanding achievement and service in the commercial real estate and investment area.

The program is designed to allow the sponsor (usually a CCIM chapter), the Named Endowed honoree, and the Education Foundation to promote scholarship in the area of commercial real estate and investment on a local, state, and national basis.  The program should promote the CCIM designation on a broad basis, increase the visibility of the chapter/sponsor, and promote CCIM members by honoring the Named Endowed honorees and recipients.

Scholarship Value
For a $25,000 endowment, one scholarship with a value of $1,000 will be awarded each year.

Applications Available
Click here for an application to establish a Named Endowed Scholarship. Applications for potential scholarship recipients are available from the scholarship sponsor (e.g., chapters).

Procedure
Scholarship sponsors should send all applications and materials to the Education Foundation.

Deadline for Submission to Chapters (by scholarship applicants)
Determined by chapters. Click here for a list of fully-funded Named Endowed Scholarships.

Deadline for Submission to Foundation
Applications to create Named Endowed Scholarships are accepted year-round.

Funding Requirements
To apply for a Named Endowed Scholarship, sponsors must submit a complete application with a check in at least the amount of the minimum annual contribution.

Applicants agree to fund the full amount of the Total Funded Endowment within 5 years from date of acceptance (annually in at least the amount of the minimum annual contribution).

If a chapter for any reason has not deposited the full amount of the Total Funded Endowment within the required 5 years, those monies that have been deposited with the Foundation will revert unencumbered back to the Education Foundation general fund.

The annual minimum contribution and annual award on a yearly basis are as follows:

Funds can be added to endowments to increase the amount of the scholarships. Additional scholarship funds will be available at each interval of $12,500, meaning an additional $500 in scholarships can be awarded one year after the full $12,500 is received.

Funding Timing
Sponsors still owing funds will be invoiced in January of each year. Payment of minimum annual amount due must be made by December 15 of each year.

Match Funding
At its sole discretion, the Education Foundation may provide match-funding for Named Endowed Scholarships. Match-finding will only be provided upon full payment of the sponsor's portion of the endowment.

Commitment of Funds
The Education Foundation will deposit scholarship funds into its investment account as restricted funds. Balances will be reported on the Education Foundation's Fund Balance. While endowments are being funded, sponsors will receive an update of their account balances when the July and December financial reports are generated.

Should the sponsor cease operations or decide to stop awarding the scholarship, a replacement sponsor should be identified. If this is not done, the Education Foundation may decide to administer the scholarship or elect to have the restricted funds revert unencumbered back to the Education Foundation general fund.

Scholarship Sponsor Requirements
Submit scholarship recipient eligibility, criteria and sample application for review/approval by the Education Foundation.  Scholarships must be awarded in accordance with these Named Endowed Scholarship Program Guidelines and consistent with the Education Foundation's 501(c)(3) status.  See Requirements for Scholarship Recipients for these parameters. 

• Assign a Foundation liaison to be the primary point of contact between the Education Foundation and the chapter's scholarship committee.
• Present the scholarship at a regular chapter function (when applicable).
• Provide documentation to Foundation, including completed Recipient Profile Form
• Brief summary and photo of award presentation/Head shot of recipient
• Contact information for media outreach

Requirements for Scholarship Recipients
Named Endowed Scholarships must be made consistent with the following requirements and limitations for applicant eligibility and selection criteria:

• Scholarships, if awarded to students in higher education, must be made to those attending accredited colleges and universities.
• Any students receiving scholarship grants must express the intent to pursue a career in real estate
• Scholarships can be used to provide assistance in the form of direct payment of books and materials incurred in connection with courses provided by the CCIM Institute.
• Scholarships can be used to sponsor research intended to foster further understanding and knowledge of commercial investment real estate matters.
• Selection criteria must include financial need, academic record, and other objective, racially non-discriminatory factors. The race or employment status of applicants shall not be considered.
• Relatives of those on the scholarship selection committee are not eligible.

Scholarship Awards

• The first scholarship is available to be awarded one year after the date the scholarship is fully funded, and disbursement of scholarship checks will be made based on the following schedule:
• Named Endowed Scholarships fully funded between January 1-June 30: Scholarship Recipient Profile Form is due April 30; Check will be cut on May 15.
• Named Endowed Scholarships fully funded between July 1-December 31: Scholarship Recipient Profile Form is due October 31; Check will be cut on November 15.
• Sponsors may accumulate their annual award to give a larger award. For example, with a $25,000 endowment, a year can be skipped to provide for a $2,000 scholarship the following year.  The sponsor's intent to do this must be made in writing to the Education Foundation.
• Scholarship checks will be made payable to the educational institution and scholarship recipient to ensure funds are used for the education purposes intended. If checks are made to any other parties, appropriate reporting is required to show the educational use of the funds.

Recipient Notification
Handled by chapters; Education Foundation will also send a congratulatory letter to recipients.

Procedures
Applications, checks, and any other documentation should be sent to:

Education Foundation of the CCIM Education Foundation
Attn: Named Endowed Scholarship
430 N. Michigan Avenue, Suite 801
Chicago, IL 60611

P: 877.CCIMEF1 (224.6331)
F: 312.373.8245
info@ccimef.org

Sponsors will collect and evaluate applications from potential recipients, according to criteria established by the Foundation and guidelines adopted by the sponsor and approved by the Foundation.

In coordination with the sponsor, the Education Foundation will distribute a press release regarding each scholarship award.

Click here for an application to establish a Named Endowed Scholarship.

Click here for a list of fully-funded Named Endowed Scholarships.