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Hingham Massachusetts, Incorporated 1635, History & Pride
 

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Committees: Scholarship Fund Committee

2014 Annual Report

The Scholarship Committee is charged with the investing of assets on behalf of current and future recipients of the Hingham Scholarship Fund. Scholarship Fund assets at the end of 2014 were $4,320,909 compared to $4,033,353 at the end of 2013. These figures include investment returns, deposits of $506,831 and disbursements for scholarships and administrative fees of $219,275. If net disbursements are included with investment returns, present and future beneficiaries enjoyed a return on investments of +10% in 2014.

2014 was a positive year for most of the major asset classes. The BarCap Aggregate, a broad investment grade bond index returned +6.0%. The S&P 500, an index comprised of the 500 largest US public companies according to market capitalization, returned +13.7%. The Russell 2000 Index, an equity index that includes a broad array of medium sized US companies had a positive +4.9% return. The MSCI EAFE Index, which measures large company equity performance domiciled in Europe, Australasia and the Far East returned -4.5%.

The asset mix, approximately 70% equities and 30% bonds and money market equivalents has been a consistent strategic target of the fund for the past three years. Given the perpetual nature of the fund's beneficiary interests and the low level of interest rates, the committee feels this mix to be most prudent. In 2014 the fund benefited from holdings in US Equity and Fixed Income Mutual funds. The International Equity holdings generated a small positive return.

The committee voted to provide $220,000 in scholarship awards in 2014. This compares to $200,000 in 2013 and $160,000 in 2012. The Town of Hingham authorized this program in 1975. In the subsequent years over $2 million has been awarded to Hingham High School graduates who successfully complete their first semester of higher learning.

The members of the committee volunteer their time and are listed below. We continue to rely heavily upon the skills and professional acumen of members of the Treasurer's Office for trade implementation and accurate processing of donations and disbursements.

Appointees:
Roger Nastou
Andrew Shafter
Kurt Weisenbeck
Adam White
Jean Montgomery

Scholarship Committee Trust Funds In Custody Of The Treasurer

Scholarship                                                   12/31/13______12/31/14
Rizzotto Memorial................................................ 8,478............... 21,532
Cyrus Bacon & Ada W. Bacon............................. 29,385............... 30,754
Orvis K. & May B. Collins...................................... 2,394............... 65,419
Amasa J. Whiting............................................... 30,321............... 31,823
Second World War Memorial............................... 76,137............... 79,819
Margaret McElroy............................................... 15,905............... 16,637
Stuart Macmillan................................................ 72,229............... 75,900
Anne Mulholland.................................................. 5,956................ 7,329
John Lewis Russell............................................. 18,753............... 19,733
Caroline Murdock............................................... 14,277............... 14,979
Charles (Chuck) Martell...................................... 35,107............... 37,640
Francis James Thompson............................... 2,497,471.......... 2,617,879
Patricia Lynne Schneider...................................... 5,384................ 5,648
Harold L. Downing............................................. 22,745............... 23,870
Hingham Theater for Children............................... 6,661................ 6,995
Curtis Chase...................................................... 13,714............... 14,373
Wallis Lee Chipman............................................. 8,546................ 8,946
Russell H. Arkell................................................ 11,617............... 12,169
Hingham Basketball Boosters.............................. 15,342............... 16,041
Charles Berry...................................................... 6,581................ 6,874
Edward O. Hornstra........................................... 19,801............... 20,786
William J. Laubenstein Jr...................................... 5,917................ 6,206
Mary Sheldon...................................................... 7,893................ 8,587
Robin Karen Kurciviez.......................................... 6,351................ 6,665
Mary J. Fee......................................................... 5,682................ 5,956
Jacobs.............................................................. 36,140............... 37,807
John Higgins........................................................ 5,402................ 5,650
Burditt W. Collins Memorial................................... 8,512................ 8,846
Savini Music........................................................ 6,951................ 7,271
Stuart Blake & Mary McKay Luce....................... 239,860............. 251,600
Robert V. Barbuto & James C. Silipo.................... 21,785............... 22,752
Herbert W. Farrar Memorial................................. 6,523................ 6,811
Lane W. & Agnes Bryant................................... 138,314............. 144,583
Hingham Taxpayers........................................... 63,246............... 66,178
Hingham Band Parents......................................... 6,924................ 7,253
Susan Burton..................................................... 24,492............... 25,601
Leroy L. Eldredge.............................................. 19,861............... 20,971
John Barba........................................................ 23,576............... 24,608
M. Tilghman Earle.............................................. 24,453............... 25,912
Lewis J. Ernst.................................................... 14,768............... 15,439
Joan E. Pyne Memorial......................................... 8,053................ 8,408

John Peter Nionakis............................................ 13,599............... 14,202
Kids Cabaret....................................................... 3,505................ 3,825
Rosemary Amoscato Shaughnessy....................... 14,829............... 15,458
Field Hockey Team............................................ 10,566............... 11,220
Charles L. Vickery.............................................. 35,162............... 39,073
Jamin Guarino................................................... 40,477............... 42,496
Clifford Family Memorial..................................... 12,085............... 12,573
Thomas J. Wallace, Jr & Michelle Wallace  .......... 12,699............... 13,300
Gerald M. Collins, M.D.......................................... 3,305................ 3,446
Hingham Scholarship Memorial............................. 7,238................ 7,666
Crofoot Trust..................................................... 22,567............... 23,517
Sam Butterfield.................................................. 11,161............... 11,621
Gloria O. Lofgren .............................................. 14,745............... 15,441
Robin Helene Ruben .......................................... 15,646............... 17,369
Robert L. Goodrich ............................................ 36,771............... 38,433
Helen S. Wollan .................................................. 6,816................ 7,296
Former Students of HHS..................................... 14,848............... 15,459
Mark S. Gratta Sr Memorial................................. 21,698............... 23,899
Hingham Women's Club...................................... 17,627............... 18,423
Corine Cyr Benedict Memorial............................. 12,139............... 12,727
Carol & Ruth Gardner Memorial........................... 23,178............... 25,232
Samatha Hooper Memorial................................... 6,859................ 7,468
Cynthia Steven Scholarship................................... 5,887................ 6,132
Marie Meallo Scholarship.................................... 11,984............... 12,721
Keith Ryan Memorial............................................3,406 ............... 3,777
Sean Ryan Memorial.................................................. 0............... 62,679
Colarullo Family Scholarship........................................ 0............... 10,000
General Fund ..................................................... 3,049................ 3,210
Total ........................................................... 4,033,353.......... 4,320,909


Appointee
(Appt. By Selectmen, ART 26 ATM 1975)

Roger Nastou
Thomas Hagstrom
Kurt Weisenbeck
Jean Montgomery
Andrew Shafter
Clay Graham