Randy Harelson Scholarship Fund–Phase II

In the previous issue of Magnolia (Fall 2024), we were pleased to announce success in reaching the initial goal set for the Randy Harelson Scholarship Fund established earlier that year. That goal was $60,000 which invested at 5% interest would yield $3,000, the amount currently required to fund the three annual stipends presented to recipients of the Undergraduate Scholarship, Graduate Fellowship, and Young Professional Grant. We have since, however, been unsuccessful in finding a risk-free investment for these funds that yields 5%. Given the fact that a larger corpus is thus needed, and the amount of the stipends will eventually need to be adjusted for inflation, the Board of Directors approved a new goal of $100,000 at its spring 2025 meeting in Mobile. Until the new goal is achieved, the Society will continue to underwrite the stipends from the general fund as it has done in the past, thus protecting the Scholarship Fund corpus until it becomes self-sustaining. The Board wishes to thank members and nonmembers who have contributed to the fund and encourage additional contributions.  Contributions to the Randy Harelson Scholarship Fund are tax deductible. When you support the scholarship fund, you invest in the future of the Society.