Report - Newton, MA

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#125- 11 and #126-11 Thornton Swain Thomas Scholarship Fund Established under the terms of the will of Charlotte T. Thomas, and accepted by the City on February 5, 1951. The fund consists of a $5,000 nonexpendable gift, the income on which is to be paid to a graduate of Newton High School who has known excellence in English, with a preference to be given to a student who has shown a talent in writing poetry. The trustees shall consist of three members, the principal of the school; the head of the English department and a member of the English department. Newton High School Scholarship Fund Established in January of 1959 by Mr. Henry Balos, Chairman of the Newton High School PTA, who set up a fund with Newton Waltham Bank for future donations. The non-expendable fund of $2,749 was established to benefit deserving Newton High School students who desire further education. Newton North High School Scholarship Fund The Newton North High School Scholarship Fund includes a variety of special purpose scholarship and award funds, which had prior to FY 1995 been in the custody of the Newton North High School Principal's Office. These funds are now in the custody of the City Treasurer and under the general ledger control of the City Comptroller. Newton South High School Scholarship Fund The Newton South Scholarship Fund includes a variety of special purpose scholarship and award funds, which had prior to FY 1995 been in the custody of the Newton South High School Principal's Office. These funds are now in the custody of the City Treasurer and under the general ledger control of the City Comptroller. Eric Morganthal Memorial Scholarship Fund Established in 1964 by Mr. & Mrs. James Morganthal in memory of their late son Eric. The fund consists of a non-expendable corpus of $2,279, the income from which is to be paid to a graduate of Newton South High School, with preference given to men entering Dartmouth College. Leslie Solomon Memorial Scholarship Fund Established in 1965 by parents and friends of Leslie Solomon, a graduate of Warren Junior High School that died soon after graduation. The fund consists of a non-expendable corpus of $4,677, the income from which is to be paid to a graduate of Newton High School, with a preference given to a woman graduate of Warren Junior High School. No relative of the Solomon family may receive benefit from the scholarship fund. Cecilia F. Betts Merit Scholarship Fund Established for purposes of awarding a graduating senior of a Newton public high school, who has given evidence of academic excellence and social responsibility, partial financial assistance for college studies at an educational institution that is accredited by a national or regional accredited association. Mary Cunningham Scholarship Fund Established in 1945 by the friends of Mr. Bill Cunningham in honor of his mother, Mary Cunningham. The fund consists of a non-expendable corpus of $2,897. Newton Waltham Bank serves as the trustee.
#125- 11 and #126-11 Board of Aldermen Scholarship Fund. Established on January 22, 1991 by Ordinance T-120 (BO #596-90) for purposes of providing (2) college scholarships (one for a Newton North High School and one for a Newton South High School) each year to graduating seniors, who have demonstrated an interest in government through their participation in student affairs at their respective schools. Scholarships may be granted up to a maximum of $1,200 per recipient per year from either investment income or fund principal. The fund is administered by a (3) member board of trustees, consisting of President of Board of Aldermen and two other Aldermen, (1) from Wards 1-4 and a second from Wards 5-8. Mayor Theodore D. Mann Fig Newton Fund Established on September 3, 1991 by Ordinance T-172, with a gift from the Nabisco Brands, Inc. Income earned on the gift shall be used for purposes of making grants to graduates of the Newton high schools, who are pursuing a college education or vocational/technical training at an accredited institution and need financial assistance to pursue their educational goals. To the extent that income allows, (3) scholarship awards shall be made each year, one to a graduate of Newton North High School, one to a graduate of Newton South High School, and one to a graduate of either NNHS or NSHS, who is a participant in the METCo program. The trustees of the John C. Chaffin Education Fund serve as trustees of the Fig Newton Fund. Student Athletic Scholarship Fund Established on June 17, 1991 by Board Order #30-91(E-1&2), with $40,000 in lieu of tax payment from Boston College. Investment income on the $40,000 principal is to be used for purposes of providing relief from athletic user fees for needy students. Lawrence W. Gorin (Class of 1955) Scholarship Fund Established on April 1, 1996 by Board Order #514-95 with a $5,000 gift from Mr. Lawrence Gorin. The Fund is administered by the trustees of the John C. Chaffin Education Fund and the City Treasurer serves as fund custodian. The purpose of the trust is to annually provide a scholarship to a graduate of the City's public high schools who has shown a thirst for knowledge and is pursuing a college education at an accredited institution of higher learning which can award, at a minimum, a bachelor degree. In addition to the scholarship, the trustees may make low interest loans from the fund principal or income to graduates of the Newton high schools who are attending an accredited institution of higher education. The trustees are to accumulate fund income until such time as the fund's principal is deemed to be sufficient to provide an annual scholarship award, provided that prior to such time, the trustees may make low interest loans from the Fund's principal. Kendrick Fund Established by virtue of the last will and testament of John Kendrick (January 3, 1825), with a $1,000 gift. A sum of $500 per year is to be used to be distributed to needy industrious poor of Newton, especially widows and orphans. Once the principal of the fund reached $3,000 the trustees are to use the remaining fund income to make loans, secured by real estate mortgages to industrious poor of Newton. Individual loans of not more than $300 at 5% interest, and repayable within 5 years are allowed. Chapter 145 of the Acts of 1874 named the Mayor and Board of Aldermen as trustees of the fund.
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$100 rent differential (Difference
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#45-11 CITY OF NEWTON IN BOARD OF A
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Report - Newton, MA

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