Scholarships are based on the annual earnings of our investments. Our current policy states a fund is considered fully endowed when the fund corpus reaches $15,000 or more. Scholarships from the Foundation in that fund’s name will be awarded annually in perpetuity at each $15,000 level. Market conditions permitting, scholarships will be in the amount of $1,000 per $15,000 in an individual fund. When market conditions do not permit an award of $1,000, the CaFFE Finance Committee shall determine the amount to be awarded.
Additionally, the following applies to the scholarship funds for the students of the California School of Podiatric Medicine at Samuel Merritt University: the Podiatric Medical Education Advisory Committee of CSPM has instituted a policy that once a CaFFE fund reaches $5,000 it will grant a $1,000 scholarship and then with continuing $1,000 minimum yearly contributions that fund will be eligible for future grants of $1,000 to be funded by PMEAC until the $15,000 level is obtained. .
Since its inception to date, the California Foundation for Excellence in Podiatric Medicine has awarded scholarships totaling $747,000 and $85,000 from PMEAC. Currently, the Foundation is managing 77 different scholarship funds, 23 of which qualified for 45 CaFFE scholarships of $1,000, and 30 for PMEAC matching grants of $1,000 each. Click here for list of last year’s recipients.