Kit Murphy Memorial Scholarship Fund
Kit Murphy was a long-time member and leader of our Association. His untimely passing on June 22, 1992, touched many of us. It was the loss of a truly great friend.
This will be our 22nd anniversary, thanks to the generosity and unbelievable support from the Murphy family and CASBA. Members began a drive to raise funds for The Kit Murphy Memorial Scholarship. CASBA committed to building this trust fund so that a substantial number of recipients could receive financial aid as they develop their skills through higher education. As the trust fund increased, so did the number of scholarships awarded. So far, $250,000 has been contributed by our friends and members. Thirty-seven scholarships were awarded in Kit’s name last year.
The scholarship fund works this way:
- Cash gifts are deposited into a trust.
- The trust funds we invest yield enough cash to award scholarships.
- A committee appointed by CASBA determines the criteria for awarding a scholarship to the each recipient.
- Recipients are eligible only if they are an employee or an immediate family member of an employee of a CASBA member’s company (approximately 138 members at 100 companies received this letter).
- Criteria for eligible recipients is based on grade point average, standardized test scores, social service, financial need and other important factors.
- Awards will be determined in an objective manner only and not by the scholarship committee; instead, standards will be set by the committee which will employ an outside administrator to compute how each applicant scored in each category and will notify the committee of the results.
- The number of scholarships and the amounts will be determined by the trust fund yield supplemented by timely contributions and will be awarded at the annual CASBA Convention.
This is a good time to ask all CASBA members to think about the part they would like to play in this fine effort as we seek to reach our fund goals. Please consider an amount you and/or your company would like to pledge in Kit’s name for its 22nd anniversary scholarship drive.
If you prefer to send a check at this time, please mail to:CASBA / Kit Murphy Memorial Scholarship
PO Box 150
Pewee Valley, KY 40056-0150
Scholarship applications must be postmarked no later than Saturday, January 31, 2015.
CASBA scholarship recipient testimonials