Scholarship & Award Endowment Report ^ OKLAHOMA CITY COMMUNITY FOUNDATION | JUNE 2 0 06 INSIDE THE REPORT Remembering a Son's Duty to His Country 1 Remembering a Son's Duty to His Country 2 Investing in the Future Through Endowments 3-10 2006 Scholarship & Award Endowment Funds 11 Achieve Your Goals Through Scholarship & Award Endowment Funds 12 Contribution Card & Online Giving of the 2001 terrorist attacks on September 11th, he said we had to keep our world safe." Soon after the news of his death reached family and friends stateside, memorial contributions poured in to a special fund at the family's church. CPL. JEFFRY ROGERS While they had hoped he would go to college following his graduation in 2002 from Putnam City North High School, Jim and Janet Rogers were proud of their only child Jeffry when he made the decision to first serve his country as a Marine before attending college. "As parents, we had stressed to Jeff the importance of a higher education and how it would affect his future," says Mrs. Rogers. "He agreed and understood but after watching the horrific toll Shortly before graduating from high school, Jeffjoined the Marines. He scored so high on his military entrance exam that he was awarded a $50,000 scholarship from the Marines. Jeff would never get the opportunity to utilize that scholarship. Cpl. Jeffry Rogers was killed Nov.16, 2005 in New Ubaydi, Iraq during Operation Iraqi Freedom. Mr. and Mrs. Rogers determined the best use of the generous gifts in combination with their own gifts would be to create a scholarship fund in memory of their son. Working with their certified public accountant Randy Compton, the Rogers came to the Oklahoma City Community Foundation in March 2006 to create the Jeffry Rogers Education Memorial Fund. The fund supports a scholarship to a deserving graduating senior from Jeffry's alma mater, Putnam City North High School. "We wanted to share with others our pride and the ultimate sacrifice Jeff gave to help with the fight for freedom around the world," his mother explains. "We saw the fund as a specific legacy to help individuals secure a better future for themselves and their families." Jesse Arnold, a 2006 graduate of Putnam City North High School, is the first recipient of the memorial scholarship. As the first in his family to attend college, Jesse is thrilled with the opportunities this scholarship is providing for him. Jesse will attend the University of Central Oklahoma in the fall. Continued on Page 2. JESSE ARNOLD 2006 Jeffry Rogers Education Memorial Scholarship Recipient
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Scholarship & AwardEndowment Report
^ OKLAHOMA CITY COMMUNITY FOUNDATION | JUNE 2 0 06
INSIDE THE REPORT Remembering a Son's Duty to His Country1 Remembering a Son's Duty to His Country
2 Investing in the Future Through Endowments
3-10 2006 Scholarship & Award Endowment Funds
11 Achieve Your Goals
Through Scholarship & Award Endowment Funds
12 Contribution Card & Online Giving
of the 2001 terrorist attacks on September 11th,
he said we had to keep our world safe."
Soon after the news of his death reached family and
friends stateside, memorial contributions poured
in to a special fund at the family's church.
CPL. JEFFRY ROGERS
While they had hoped he would go to college
following his graduation in 2002 from Putnam City
North High School, Jim and Janet Rogers were proud of their only child Jeffry when he made the
decision to first serve his country as a Marine
before attending college.
"As parents, we had stressed to Jeff the importance
of a higher education and how it would affect his
future," says Mrs. Rogers. "He agreed and
understood but after watching the horrific toll
Shortly before graduating from high school,
Jeff joined the Marines. He scored so high
on his military entrance exam that he was
awarded a $50,000 scholarship from
the Marines. Jeff would never get the
opportunity to utilize that scholarship.
Cpl. Jeffry Rogers was killed Nov.16, 2005 in
New Ubaydi, Iraq during Operation Iraqi Freedom.
Mr. and Mrs. Rogers determined the best use of the
generous gifts in combination with their own gifts
would be to create a scholarship fund in memory of
their son. Working with their certified public
accountant Randy Compton, the Rogers came to
the Oklahoma City Community Foundation in March
2006 to create the Jeffry Rogers Education
Memorial Fund. The fund supports a scholarship to a deserving graduating senior from Jeffry's
alma mater, Putnam City North High School.
"We wanted to share with others our pride and the ultimate sacrifice Jeff gave to help with the fight
for freedom around the world," his mother explains.
"We saw the fund as a specific legacy to help
individuals secure a better future for themselves
and their families."
Jesse Arnold, a 2006 graduate of Putnam City North
High School, is the first recipient of the memorial
scholarship. As the first in his family to attend
college, Jesse is thrilled with the opportunities this scholarship is providing for him. Jesse
will attend the University of Central Oklahoma
in the fall.
Continued on Page 2.
JESSE ARNOLD2006 Jeffry Rogers Education
Memorial Scholarship Recipient
Continued from Page 1.
"I believe that if I have a college education, I will be
able to get most jobs I want if I work hard at it,” says
Jesse, who wants to one day own his own business.
"I can't begin to express what this scholarship means
both to me and to my family."
The Jeffry Rogers Memorial Education Fund is one of
more than 90 independent scholarship and award
funds administered by the Oklahoma City Community
Foundation that comprise the state's largest
independent scholarship program. Donors such as
the Rogers family come to us to establish scholarship
endowments for a variety of reasons such as a
memorial for a loved one. Other donors may want
to establish a legacy at their alma mater or encour
age students to seek a degree in a particular field.
Whatever the reason, the Oklahoma City Community
Foundation works with individuals, families,
businesses and organizations who all share the goal
of rewarding worthy students. In 2006, more than
500 students will receive financial support thanks
to the scholarship endowments we administer. Most
importantly, these students are being encouraged
to continue their education past high school and
improve their lives.
Since 1969, donors have been coming to the Oklahoma
City Community Foundation to establish endowments
for scholarships and charitable organizations and
causes they care about. They trust us to administer
the endowments according to their wishes. In
addition, our investment policies and procedures
ensure prudent and perpetual management of the
funds. The Oklahoma City Community Foundation
administers nearly 1,000 funds with assets exceeding
more than $490 million. We want to work with you to
establish an endowment such as a scholarship fund.
Contact us at 405/235-5603 or visit www.occf.org
for more information.
Investing in the Future Through Endowments
The scholarship and award funds listed in this
publication are permanent funds, also known
as endowments. Endowments are funds that
are invested with the intent to provide per
petual support for a charitable purpose and
in these cases, scholarships and awards. The
Oklahoma City Community Foundation Board
of Trustees monitors the investment process
so that every scholarship endowment receives
quality professional investment management.
How Scholarship Endowments are Invested
All scholarship endowments are pooled with other
Oklahoma City Community Foundation funds and
invested by a team of professional investment
managers. Our investment policy calls for a port
folio of stocks and bonds that is highly diversified
and of high quality. Capital preservation and growth
necessary to protect against inflation are the policy's
fundamental objectives. Our Investment Committee
monitors the performance of these managers and
devotes significant time to consideration of issues
of asset allocation and appropriate diversification.
The Investment Committee is comprised of Trustees
and investment professionals in the community and
is led by Investment Counsel, James K. Hotchkiss of
Hotchkiss and Associates of Chicago, III. This proven
investment strategy has resulted in investment
performance that has out performed the market
benchmark indices for the past 10 years compounded.
Total investment performance for the fiscal year
ended June 30,2006 was 7.9 percent. Details of
quarterly investment performance results are
available at www.occf.org.
How Annual Distributions are Determined
Cash distributions from a scholarship and award
endowment are based on a spending rule that calls for distributing 5 percent of the market value of the
fund, averaged over the previous eight quarters. Any
remaining investment return over the 5 percent is left
in the fund to increase the fund value and to protect
the future income stream against inflation. Historical
trends in the marketplace indicate that 5 percent is
an appropriate amount to distribute while still main
taining the purchasing power of the fund. This is
based on the assumption that total investment return
for a balanced portfolio can reasonably be expected
to average at least 8 percent and inflation over time
will average 3 percent. A majority of large endow
ment funds for colleges and foundations use the
5 percent spending rule because the annual
distribution from the fund is predictable and is not
tied to current income, asset allocation or shifts in
market conditions in any one year. This spending
policy allows investment managers to focus on
achieving the best total return for the portfolio that
enhances the fund over time. Cash distributions
from endowments are made following the end
of the fiscal year and the audit of the Oklahoma City
Community Foundation. Scholarship payment plans
coordinate with student enrollment schedules.
For more information on the investment and distri
Please detach and include in envelope with your contribution and mail to:Oklahoma City Community Foundation, P.O. Box 1146
Oklahoma City, OK 73101-1146In accepting a contribution to any fund, the Oklahoma City Community Foundation trustee* commit to the donor that the contribution will be protected for the charitable purpose originally intended. The variance power, as described in the governing document* of the Oklahoma City Community Foundation, assures donor* that if the charitable purpose of their contributions becomes impractical or impossible, the distributions will be directed to similar purposes in the community.
Board of Trustees
James H. Holloman Jr. President
Ronald J. Norick Paul B. Odom Jr. Kirkland Hall James Clark Nancy L.. Coats James Daniel Paul W. Dudman J. Larry Nichols John Green Jane Jay roe Christian K. Keesee Judy Love Stephen Mason William Shdeed
John E. Kirkpatrick Founding Trustee
Oklahoma City Community Foundation 405/235-5603 fax 405/235-5612