With the goal of quickly moving expiring Scholarship Management and Account Reporting for Tenpins unassigned funds to recipients and keeping the funds within the same geographic area, the United States Bowling Congress has announced a policy change to provide new bonus scholarships in the fall to active SMART recipients.
Now, when SMART-deposited unassigned funds in provider accounts are not used by their expiration date, those funds will be distributed equally to active recipients in that state. SMART defines an active recipient as one who used funds in the preceding calendar year.
SMART providers receive SMART-deposited unassigned scholarship funds annually. If the provider chooses not to assign those funds to a recipient within two years, they expire. The first expiration of SMART-deposited unassigned funds was scheduled to take place on July 31. The amount of the fall bonus scholarship will vary by state depending on the amount of expiring provider funds and number of active recipients within the state.
Earlier this year, USBC announced an investment earnings allocation of $7 million to provide additional scholarships for youth bowlers in 2024. The allocation was consistent with funding provided in 2022 and 2023 and matched the largest investment earnings allocation in SMART history.
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