On May 23, 1994, ALSITE Scholarships, Inc. was incorporated in Baldwin County, AL as a private foundation by David R. Griffin, Harold M. Raynor, Jerry L. Reeves, Daniel S. Turner and Robert L. Vecellio.
The IRS notified the Foundation on September 2, 1994 that ALSITE Scholarships, Inc. was classified as a private Foundation under Section 509(a) of the U.S. Internal Revenue Code and it was recognized as a nonprofit organization under Section 501(c)(3) of the U.S. Internal Revenue Code.
As a private, tax exempt Foundation the Harold M. Raynor ALSITE Scholarships, Inc. cannot directly undertake fund raising campaigns and must depend on the generosity of the ALSITE membership, other interested parties and various income sources to fund the current scholarships, and hopefully to expand the number of annual scholarship awards over the years.
The Alabama Section of the Institute of Transportation Engineers has done an outstanding job of accumulating funds for the scholarship program. The Alabama Section elected to use indirect fund raising avenues. Its scholarship contributions to the Foundation originate from many sources including ALSITE Meeting surcharges, ALSITE Newsletter proceeds, the Annual Meeting Auction, Annual Billy Jones Memorial Golf Tournament and ALSITE Bass Tournament.
These contributions coupled with voluntary directed gifts to the Foundation along with the annual interest earned by the Foundation’s endowment and money market funds have provided adequate scholarship funds for two significant annual awards.