The Board of Directors of SMART (Scholarship Management and Accounting Reports for Tenpins) Corporation will make an income earnings distribution to providers’ funds later this month. A $230,000 total distribution will be credited before March 7, 2012.
“We are pleased that SMART is now positioned to resume periodic payouts of asset earnings to our providers’ accounts,” SMART Corporation Board Chairman Wally Hall said.
Additionally, beginning in February 2012, all SMART assets are being transferred to investment funds in line with SMART's revised financial guidelines. The transfers of these investments will be overseen by Asset Strategy Consultants of Hunt Valley, Md., based on the investment policy that the SMART Board of Directors developed over the past year.
The SMART Board’s investment policy is designed to invest the present value of earned scholarships into highly conservative and safe securities. The remainder of the assets will be invested in a diversified portfolio of securities expected to yield greater returns while still maintaining a highly conservative investment strategy.
The SMART Corporation is also initiating a project to enhance the design, functionality and content of its website portal. The SMART Board will continue to provide updates on this key project as development progresses.
The United States Bowling Congress SMART program began operation in 1994 as a service offering the bowling community a centralized location to manage bowling scholarship funds as well as providing USBC members with a resource for inquiries about bowling scholarships. In 2010, the SMART Bowling Scholarship Funding Corporation was created as an independent entity dedicated to the management, protection and promotion of the SMART scholarship funds.