December 10, 2014
ARLINGTON, Texas – The Scholarship Management and Accounting Reports for Tenpins (SMART) Corporation Board of Directors announced it will make an income earnings distribution of $192,969 to providers’ funds in December.
“The SMART fund made solid returns while maintaining a conservative investment strategy and the SMART Board is delighted to be able to make this distribution to providers,” said Wally Hall, SMART Corporation Board Chairman.
The distribution in December is for 2013 income earnings; the SMART Board has scheduled future annual distributions to take place each May starting in 2015.
The SMART Board invests the largest portion of earned scholarships into safe securities with the remaining assets invested in a diversified portfolio of securities expected to yield greater returns while maintaining the highly conservative investment strategy. Some income is used to cover administrative costs and investment fees while remaining income is allocated to participating organizations.
The United States Bowling Congress SMART program began in 1994, 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 and contracted with USBC for the day-to-day operation of the program.