Peggy Studniarz Memorial JBT Scholarship Fund

The principal of the Fund shall be held as an endowment and the net income therefrom shall be distributed upon the following terms and conditions: The net income from the Fund shall be used to support the Jonathan Baldwin Turner scholarships in the College of Agricultural, Consumer, and Environmental Sciences at the University of Illinois at Urbana-Champaign. Preference shall be give to a freshman student with a farm background, demonstrated financial need, and promise of making a contribution to agriculture in Illinois who enrolled in a program of study of production agriculture, agribusiness, or plant and soil sciences. Preference shall be given to students from Illinois farms and second preference to students from Michigan farms. Recipients shall be from an operating family farm where net farm income is the primary source of family income and shall meet the minimum requirements of the Jonathan Baldwin Turner Scholarship Program. Scholarships are renewable for three additional years years as long as recipients maintain the scholarship criteria as stated above. The Dean of College of Agricultural, Consumer, and Environmental Sciences shall determine the recipients, amount, and timing of the scholarships, subject to the approval of the appropriate University officials and in accordance with the existing guidelines for the Jonathan Baldwin Turner Agricultural Scholarship Program. Scholarship awards shall be known as the “Peggy Studniarz Memorial Scholarships” and shall be appropriately recognized and publicized. In administering the Fund, the Foundation may pay over to te University of Illinois all or part of the net income upon the certification by the University of Illinois that said net income will be applied by it in accordance with the purposes and restrictions designated herein. The net income of the Fund shall be determined by the Foundation in accordance with established Foundation policies and procedures, after payment of reasonable fees and expenses, including development fees and expenses incurred by the Foundation in the administration of the Fund. These policies and procedures may be amended from time to time and are incorporated herein by reference.