Cahill Black Point Education Fund

Cahill Black Point Education Fund 7/15/18 Fund Statement

We are pleased to announce that The Cahill Black Point Education Fund is now a permanent Fund of the Community Foundation of Eastern Connecticut (CFECT) located in New London, Connecticut. CFECT is a community foundation that has been active in Eastern Connecticut since 1983, and manages more than $86 million in assets, including over 100 scholarship funds.

The concept of a Black Point Fund originated with the Stent Family, and in 2206 was changed in name to The Cahill Black Point Education Fund. The goal of our Fund has always been threefold: (a) to build an endowment that will last in perpetuity; (b) to grant awards to at least two individuals who will be or are attending a post-secondary educational institution (undergraduate); and (c) to base the award on a blind essay about the significance of Black Point in the applicant’s life. Applicants must be members of the Association or their direct descendants. Those rules are outlined below.

Many of you may be aware that the Fund has been supported significantly by the proceeds of the Black Point Golf Tournament as well as by personal donations. Coupled with wise management under Brian Comer’s fiduciary leadership at first and then CFECT’s investment strategy since 2012, our fund has grown to over $80,000. We have achieved our original goal of making the Cahill Black Point Education Fund self-sustainable at producing two annual $1,000 scholarship awards in perpetuity. We’d like to continue to build the fund so that we can either give out larger or additional awards. We will continue to raise money for the Fund through our golf tournament and other fundraising events.

We also warmly welcome personal donations which can be made directly to the Fund at CFECT. If by check (payable to CFECT) please include in the MEMO portion of your check, that the proceeds are to go to The Cahill Black Point Education Fund The mailing address is CFECT, P.O. Box 769, New London, CT 06320. You may also make a gift online at CFECT’s website (choose the Cahill Black Point Education Fund in the drop down menu of funds as you make your way through the gift form).

Our goal is to maintain the spirit of a very friendly, small community scholarship fund as well as to build a permanent endowment to benefit students for years to come. Please look for our updates on the website. Thank you to all members, past, present and future, who continue to work with us to ensure our continued success.

Sincerely,
Ellen Spalluto
Anita Schepker
Brian Comer
Gene Massey
Brendan Fox, Sr., Senior Advisor

Cahill Black Point Education Fund Information:
1. The Fund and the scholarship selection process is administered by CFECT. Reports on the Fund are provided annually or upon request at the Foundation.

2. The 2011 Black Point Advisory Members became Advisors to CFECT and will solicit interested parties about becoming future Advisory Members. CFECT would like to keep the number of Advisors to no more than five. The Advisors will help CFECT with communications to the membership and the solicitation of Black Point judges to score the essays as well as to continue its fundraising efforts to grow the Fund.

3. The deadline for applications is generally around April 1. The award recipients will be announced at the Annual Meeting in May each year. Applicants who are seniors in high school or who are attending a post-secondary institution and who have not won a scholarship previously from the Fund may go online to access the application.

4. The essay question will be to state the significance of Black Point Beach in the applicant’s life. CFECT endorses the simplicity and community feel of an essay about the Beach Association, distinguishing it from other awards. As is the case now, there will not be any consideration that the award be based on academics, extracurricular activities or financial need. The CFECT has its own basic application form which may require information for their compliance but the bottom line is that the essay will be the main component of the Cahill Black Point Education Fund selection process. The applicant must ensure (a) graduation from high school in good standing and (b) attendance at an accredited post-secondary institution (and it will be limited to undergraduate school). As in the past, there will be at least two winners each year.

5. The requirement that you must be an owner, child of an owner, grandchild or great-grandchild (i.e. direct descendant) of a property owner/ member in Black Point would remain.

6. Advisors to CFECT and Association members would still be responsible for fundraising for the Fund, such as running the golf tournament or any other fundraiser deemed appropriate.

7. Advisors will solicit Black Point Members to be judges of the essays (please submit your names to any of us if you are interested in judging the essays). The requirement that a judge cannot have an affiliation to an applicant will remain. CFECT will handle all paperwork, notify the winners of their award, and notify Black Point Advisors.

8. CFECT will manage the money, administration, and send letters for all tax-deductible gifts to donors.

9. CFECT will notify winners and mail the checks directly to their educational institutions to get applied to tuition or expenses.

Below are the essay requirements that will remain in place with the CFECT:

Application
The CFECT application requires a range of information including the applicant’s Name, Home Address, Phone Number (home or mobile), Black Point Address, Name of member at BPBC (you must be a direct descendant, owner, child, grandchild, great-grandchild, etc), Name of high school attended and the name of the accredited post-secondary institution where student plans to attend full-time.