SMART Corporation announces $400,000 distribution
June 02, 2015
ARLINGTON, Texas – The Scholarship Management and Accounting Reports for Tenpins (SMART) Corporation Board of Directors made an income earnings distribution of $400,000 to providers’ funds on May 29. The distribution is for 2014 earnings.
The distribution follows a $192,969 distribution made in December, for 2013 earnings.
“We’re pleased to be able to make such a significant distribution and our largest since March 2013,” said SMART Corporation Board Chairman Wally Hall. “The SMART Fund has provided good returns as we maintain the conservative investment strategy expected by our stakeholders.”
When the SMART Board announced its distribution in December, it also announced decisions with respect to future distributions would be determined each May.
The SMART Board has a highly conservative investment strategy with the largest portion of earned scholarships placed in safe securities. The remaining assets are invested in a diversified portfolio expected to yield greater returns. While some income is required to cover administrative costs and investment fees, the remaining income is distributed to participating organizations.
The United States Bowling Congress SMART program began in 1994, offering 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. USBC staff oversees the day-to-day operation of the program.
Visit BOWL.com/SMART for more information about the SMART program.
The distribution follows a $192,969 distribution made in December, for 2013 earnings.
“We’re pleased to be able to make such a significant distribution and our largest since March 2013,” said SMART Corporation Board Chairman Wally Hall. “The SMART Fund has provided good returns as we maintain the conservative investment strategy expected by our stakeholders.”
When the SMART Board announced its distribution in December, it also announced decisions with respect to future distributions would be determined each May.
The SMART Board has a highly conservative investment strategy with the largest portion of earned scholarships placed in safe securities. The remaining assets are invested in a diversified portfolio expected to yield greater returns. While some income is required to cover administrative costs and investment fees, the remaining income is distributed to participating organizations.
The United States Bowling Congress SMART program began in 1994, offering 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. USBC staff oversees the day-to-day operation of the program.
Visit BOWL.com/SMART for more information about the SMART program.