Let it be known that we, the contributors, do hereby associate ourselves as a body and a non-profit group, and the following are our articles of association:
ARTICLE 1. The name of the body shall be the Orange Scholarship Fund Association.
ARTICLE 2. The purpose for which this body is formed is as follows: to promote higher education and the interests of Orange residents therein; to aid intellectually able Orange students who need financial assistance to develop their potential through a college education; to collect and properly distribute funds to selected individuals from a list of applicants; to recognize excellence in scholarship.
ARTICLE 3. The care, control and disposition of the property and funds of the Association and the management of its affairs shall be vested in Directors. Said Directors shall have the power to adopt, amend, or repeal by-laws for the governing of the Association, to elect officers and do all things necessary, suitable and convenient in managing the Association.
ARTICLE 4. None of the Association's funds shall be distributable to its members, officers, or directors.
By-Law of the Orange Scholarship Fund Association
ARTICLE 1. Directors
The property and affairs of the Association shall be conducted by Directors. The officers will be a President, Vice President, Secretary, and Treasurer. The Directors shall have the power to fll all vacancies, to appoint officers and committees, and do anything customarily done by Directors.
ARTICLE 2. Meeting
Meetings may be called at anytime or place agreed upon by the Directors. The President may call a meeting when in his/her opinion the interest of the Association requires such meetings. Notice of the meetings shall be given to each Director at least one week in advance. A vote of 2/3 of those present is necessary for the passage of the motion. Annual meetings shall be held.
ARTICLE 3. President
The President shall, if present, preside over all meetings. He/she shall have general direction of the affairs of the Association, and such powers as are customarily exercised by his/her office.
ARTICLE 4. Vice President
The Vice President shall perform the duties of the President in his/her absence or disability, and also perform such other duties as delegated to him/her by the President.
ARTICLE 5. Secretary
The Secretary shall keep a true and faithful record of each meeting. He/she shall have powers and perform such duties as are customarily done by a Secretary.
ARTICLE 6. Treasurer
The Treasurer shall receive and have charge of all contributions and funds of the Association. He/she shall deposit such funds in a financial institution with the approval of the Directors. He/she shall keep a record of all contributions. He/she will keep accounts available for inspection by any member. He/she shall present a current financial report at each meeting. He/she shall have powers and perform such other duties as are customarily done by a Treasurer.
ARTICLE 7. Amendment of By-Laws
The By-Laws of this Association may be amended, altered or repealed by a vote of 2/3 of the Directors present.
ARTICLE 8. Award Committee
The President of the Association shall appoint an Award Committee independent of the Association of no more than 8 members. This committee will review and evaluate all applications and rank them in priority order based on financial need 40%, scholarship 35%, character and leadership 25%. The number and individual amounts of aid funds shall be decided by the Award Committee and subject to approval by the Directors.
ARTICLE 9. Award Budget
The total award budget shall be determined by the Directors based upon funds available.
ARTICLE 10. Scholarship Award Committee Procedure
A. The President will annually select the members of the Award Committee.
The President will establish the calendar for the Award Committee.
B. The President will be a liaison person between this Committee and the Association and will appoint a chairperson of the Award Committee, set a meeting date for candidate ranking, and distribute the applications to the Committee. The President will advise the chairperson of the total award budget for that year.
C. The Award Committee will be guided by the OSFA policy on criteria for awards. The aims of the Association have been summarized as follows: To aid intellectually able students who need financial assistance to develop their potential through a college education, and to recognize excellence in scholarship. Any student enrolled in public, private or parochial school regardless or race, color, or creed will be considered on the basis of scholarship and financial need. Senior students in high school will be eligible to apply, and there are no restrictions as to field of endeavor. The applicant must live in Orange.
D. The Award Committee decide, by a clear majority, after all applicants have been rated, how the monies shall be divided among those selected.
E. The Award Committee will inform the President of the Association of its decision. The President will present the list of awards to the Directors for approval or changes.
F. The Committee is authorized to consult with any qualified outsider for advice or other assistance.
G. Public presentation of the awards will take place in June.