Ana and Ed McCracken Apparel Merchandising and Design Scholarship
Recipients shall be majoring in apparel, merchandising and design in the Department of Apparel, Events, and Hospitality Management. Recipients shall have a minimum cumulative grade point average of 3.0 on a 4.0 scale. Preference shall be given to students who demonstrate financial need. Recipients shall have goals and aspirations towards becoming an active leader in the business management of the fashion industry. Recipients shall participate in The Fashion Show. Recipients shall demonstrate exemplary leadership skills. Recipients shall be of sophomore, junior, or senior class standing. Upon acceptance of this scholarship, recipients shall be required to submit a report at the end of the fall semester and the end of the spring semester to be shared with the Donors. Scholarship may be renewed for an additional two (2) years so long as recipients continue to meet stated criteria.
During the lifetimes of Ana Hays McCracken and Edward R. McCracken, the Donor would like to provide three (3) annual scholarships of $10,000 each for one sophomore, junior, and senior student, and $5,000 for two summers (between sophomore/junior and junior/senior years) for significant summer experiences outside the state of Iowa, as well as outside of the recipient’s home state. Some exceptions may be approved by the administering authority. The summer experiences may include unpaid internships, study abroad, study tours, or another domestic or international experience.
The Donors will work with the administering authority to publicize the scholarship.
All recipients receiving this scholarship as of the date of this Revised Agreement will continue to be renewed so long as they meet the criteria stated in the agreement. It is the Donor’s intent that only one (1) new recipient will be added each year. This Revised agreement shall be effective starting with the 2018-2019 school year.
Should a student become ineligible due to no longer meeting the above stated criteria, the Department of Apparel, Events and Hospitality Management will identify a student of the same class standing to receive the award.
Once the deferred gift is realized, the Distributions will be divided equally between the three (3) recipients.
The financial status of this Account along with how the funds were used and how the expenditures align with the “Use of Funds” Sections of this agreement shall be provided to the Donor by the Department of Apparel, Events, and Hospitality Management in an annual report.