February 01, 2005

Crapo Sets Up First-Ever Endowment Fund For Idaho Students

Scholarship fund targets students planning careers in math and science

Boise, Idaho â?? Flanked by a coalition of Idaho educators and college/university officials from across Idaho, Idaho Senator Mike Crapo today announced the establishment of the Mike Crapo Math and Science Scholarship Fund, which will provide yearly scholarships to deserving Idaho students who chose to attend Idaho universities and colleges. This is the first such fund ever established by an Idaho congressman, and could result in multiple scholarships awarded as the endowment grows over time. To start the fund, Crapo has pledged to contribute any honoraria he earns through outside speaking engagements during his tenure in the U.S. Senate. Crapo intends to embark on an aggressive fundraising effort to fully endow the project and he also encourages interested citizens and organizations to contribute to the endowment fund, which is listed as a 501(c)3.â??In Congress, we spend a lot of time discussing education and how to ensure that our students are getting the quality of education and training that they need,â?? Crapo said. â??This endowment fund is one way to move beyond government solutions, and I hope that it will provide Idaho students with another badly-needed resource to help them pursue higher education options. We need to make every opportunity available for students to study math and science, and it is my intention to do all I can to support our students. This may be a small effort, but it will make a difference to students who may not otherwise be able to afford college.â??Crapo was joined at todayâ??s announcement by Alice Hennessey, President and Executive Director of the Idaho Community Foundation along with Boise State University President Robert Kustra and Lewis-Clark State College President Dene Thomas as well as representatives from the University of Idaho, Idaho State University, and several other universities. Representatives from the Idaho Education Association and the State Board of Education also spoke at todayâ??s news conference.The Crapo Endowment Fund is housed within the Idaho Community Foundation, which presently manages approximately $40 million. In 2002, the ICF distributed grants and scholarships totaling $1.1 million. The Foundation was established in 1988 with assistance from The Whittenberger Foundation of Caldwell and the Council on Foundations to provide a larger pool of philanthropic capital to fund worthwhile philanthropic projects in Idaho. The scholarships from Crapo Endowment Fund will be distributed based selections made through a board, which will review applications from interested students.# # #