Common Questions
About The Besal Fund
Following is a list of
common questions and answers about the Besal Fund.
What is an
endowment?
That part of an institution’s
income that is derived by donations. This can "endow" an
activity or process, or be given to others.
What is a
scholarship?
A sum of money given to a
student to defray part or all of the cost of a college
education.
- It does not have to
be repaid.
- It does not produce
anything; essentially it funds a process.
- It can be either
"need-based" or "merit-based".
- It can be specific
to one university, or be state-wide, national or
inter-national in its scope. It can be given by
civic, government or private organizations.
What does an
"endowment" and "scholarships" have to do with the Besal
Fund?
The Besal Fund is a private
entity, in this case a stand-alone, nonprofit
organization whose endowment exists for the sole purpose
of: offering scholarships to high-achieving
(merit-based) college students who study lighting
sciences.
What is an
Endowed Fund?
This is an amount of money
that is invested specifically to produce income that
will be spent in a pre-specified way. This Fund can be
incorporated in such a way as to be considered a
nonprofit organization. Among other things, this means
that most contributions to it are tax deductible.
When and why was
the Robert J. Besal Scholarship Fund created? How big is
it?
It was created in 1983 to
honor the memory of the late Robert J. Besal, a Lithonia
Lighting Vice President.
- It only does one
thing: award merit-based scholarships (academic
achievement) to students who study lighting.
- The Besal endowment
is currently $1.6 million dollars and
awarded over $500,000 in scholarships.
- It is managed by an
agent committee. This committee includes both Acuity
Brands Lighting and Lithonia Lighting Sales Agency
Principals and Lithonia Lighting Managers.
- This committee is
now reviewing the current structure to consider
changes that will allow it to reach a broader
constituency and have a higher profile.
How
can a school or university become "qualified" as
a Besal Fund school?
Schools are accepted
for accreditation as a Besal Fund school by
promoting and educating students in the study of
light and design. To qualify, schools must
submit an application for acceptance that is
reviewed and voted upon by the Besal Fund Board
of Directors.
- School
Qualification Form (download)
