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The Foundation is funded principally by the actuarial profession through voluntary contributions. Therefore, the Actuarial Foundation will consider proposals for funding of mentoring programs that involve actuaries in supporting the teaching and learning of mathematics.
Grants may be awarded to local groups in the United States and Canada that can provide the support necessary to develop a network of mathematics mentors in the public and private school systems. Such groups include actuarial clubs and other education-oriented organizations.
In programs awarded funding, the mentors are actuaries and others in the local community who provide academic support in schools through tutoring programs for students of all abilities. The programs can also encourage interest in mathematics applications in business and societal issues by students and teachers. Applicants will be given wide latitude in designing and organizing programs to best utilize local community resources.
Benefits accruing to individual mentors and local communities include:
- increased involvement by mentors in local schools and community affairs
- increased presence of business professionals in the school system
- increased appreciation by students and teachers of the importance of mathematics in the real world
Eligibility
- any local group or organization is eligible to apply for funding. Collaboration among school systems, local actuarial clubs, corporations and other stakeholders in education is encouraged in order to enhance the chances of success, particularly on a long-term basis.
- preference in funding is given to innovative programs that do not merely replicate existing grant programs
Project Components: The following items are expected to be included in any project:
- development of a network of actuaries and others as mentors
- a plan to coordinate and manage the mentoring either independently or with other tutoring or volunteer services
- a plan to train mentors (this would typically involve other volunteer groups and school officials)
- active support from those with a stake in education, such as principals, teachers and school boards
- an evaluation plan to measure the ongoing activity and performance of the students and tutors
- a reporting plan allowing The Actuarial Foundation to evaluate support of the project
Time Frame for Grants
Grant funding is for two years with evaluation conducted at the end of each year. The Foundation will consider a third year of funding to obtain needed resources to sustain the program long-term.
Sources of Funding
The Foundation encourages co-funding from other sources, particularly within the local community. Local bases of support generally increase the chances of program viability and success, particularly in the long term.
Use of Funds: Funds are to be used for the following purposes:
- direct project overhead expenses, such as telephone, Internet connection, printing, project materials
- cost of program coordination, management and tutor training and recruitment
- any other items deemed necessary to carry out the proposed project
Funds may be used exclusively for a single purpose, such as training, when coordination or collaboration with other groups supports other aspects of the program.
A project budget is required with any project proposal. Present a detailed budget and explain all items. Specify the amount requested from the Foundation and indicate the amounts of any support from other potential funding organizations. Discuss the long-term viability of the project and funding prospects for continuing support.
Application Guidelines
Applications must be submitted in accordance with the specified guidelines.
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