January 30, 2003
A Message from AALL Treasurer Anne C. Matthewman
In a reversal from its earlier decision, the AALL Executive Board will award up to $1,000 for the Type V Scholarship.
Two weeks ago I announced that AALL’s endowed and contributed funds, including the scholarship fund, have suffered in the recent poor market conditions. As a result, no interest had been generated to provide funds for the 2003 Type V Scholarships, which are awarded to law librarians registered in continuing education courses related to law librarianship.
I also indicated that the AALL Executive Board was vigorously seeking alternative funding for the Type V Scholarships. Because the board recognizes the importance of disbursing these scholarships, it wanted to find a way to continue awarding them.
Accordingly, in a conference call, the Executive Board discussed how to address the situation. After reviewing the financial realities and affirming the strategic intention to support continuing education, the board voted unanimously to use up to $1,000 from the corpus of the AALL Memorial Fund to award Type V Scholarships in 2003. Drawing down the corpus of an investment fund is a dramatic action taken only when absolutely necessary.
The Executive Board encourages all members to consider donating to AALL’s scholarship funds. Your donations will help AALL to continue awarding scholarships in the future.
For further information on AALL scholarships and on how to donate, please visit the AALL Web site, AALLNET, at http://www.aallnet.org. To receive information on the Association’s Memorial Fund and on other endowed and contributed funds, please contact Steve Ligda, AALL director of finance and administration.